Why do people demanding greater democracy today call themselves Indignados?
Because they're furious. At greed, ostentation in the face of poverty, loss of jobs, loss of good jobs, of homes, gaping inequality, declines in schooling and health care -- in a word, their grievances are economic.
Yet their call is for more democracy -- Real Democracy Now, as they say in Spain.
That's surprising. During the Great Depression of the 1930s, people under economic stress looked for economic solutions: communism, fascism, reformed capitalism, democratic socialism. This time the crisis is economic but the response has been democratic. That may change.
Neo-fascist parties are on the rise in Greece and elsewhere -- but for now, democracy is the default solution.
It's membership time. Cultivate Canada's media. Support rabble.ca. Become a member.
Adam Smith's "invisible hand" to organize the market and make it work smoothly isn't really that invisible after all! I can even go further by declaring that there are several "real" hands working frantically to keep a special key interest rate, the Libor, artificially low.