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My Dear Friend Thucydides

As we American’s sit with a $15 Trillion deficit (and growing), the Euro-zone facing imminent collapse or at best catastrophic reorganization, and a Chinese economic bubble expanding, I am reminded of what my dear friend and Greek historian Thucydides once said about 400 years before the birth of Jesus Christ. ” Democracies always self destruct because the people will spend them into bankruptcy”.  Perhaps old Thucydides wasn’t yet introduced to socialism and communism, democracy being an ancient Greek idea. Surely he would have seen the folly of socialism and communism don’t you think? In fact, I bet he would have said” Socialism and Communism WILL self destruct because the government WILL spend them into bankruptcy.”

I wonder what he would say about the mess we’re in now, not to mention what is going on in his beloved Greece? I bet he would have a hard time differentiating between what we call democracy, socialism and communism aside from the apparent end result of each.

Why is it that an ancient Greek historian knew of this basic principle thousands of years ago and yet the most highly educated political, legal, economic, and financial minds of the modern world fail to grasp it? Rather ironic don’t you think?



Written by David Frederick

November 29, 2011 at 12:23 PM

Posted in Economics, General

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