Capital is God, God is Capital
Both the right and the left agree on one thing almost without question: democracy is good and we want to spread it throughout the world. So it is logical to ask, what makes a democracy work?
It might be religion, faith, family values, individual liberty, the rule of law, etc. But Fareed Zakaria points out in his insightful new book, The Future of Freedom, that there is a simple answer, given the historical evidence:
"The simplest explanation for a new democracy's political success is its economic success - or, to be more specific, high per capita national income." And later, "No one factor tells the whole story, but given the number of countries being examined, on different continents, with vastly different cultures, and at different historical phases, it is remarkable that one simple explanation -- per capita GDP -- can explain so much."
In other words: have faith in capital!
In a very real sense, capital is universal and transcendent. It has grown and spread across an enormously diverse set cultures and countries. We can have faith in capital to secure democracy because the historical evidence is overwhelming. To ignore history is to jeaopordize our future.
But the nature of the faith we have in capital is extremely important. And this is the basis for Moral Capital: it is a faith based on reason and historical evidence not revelation. Moral Capital will explore the battle between reason and revelation in more detail because there is evidence that, unfortunately, it is becoming the defining battle once again.