In a strict democracy, it’s all a numbers game. The more people who agree with a course of action, the more likely it will happen. The majority rules. The minority has to submit. This is of course assuming it is an absolute majority and not just a majority of the people who can and decide to “cast their vote.” Whatever the case, in a democracy, the more people who like something, the more valuable it is. Might, as they say, makes right.
The modern market wants to be a democracy, but instead of a vote (which in theory costs nothing except a little bit of time), the “majority” is decided by the amount of money behind a certain product or initiative. In the stock market, the more people buy certain stock, the more valuable it is. “See?” we seem to say. “Look at all those people buying up. It must be a good investment/a valuable product/a good thing.”
This happens of course on a local level. If a rich person (or even a middle class person) buys a house in a neighborhood, the neighborhood increases in value. (I mean, if a poor person buys a house in a neighborhood, it doesn’t say anything about the neighborhood since poor people “have no choice.”) Of course, as rich people buy up a neighborhood and increase the property value, poor people can’t afford to buy in the neighborhood. The value of the land and the houses has nothing to do with any intrinsic value of the land and the houses, but with how many people are buying there. The houses and land are the same before and after the sale.
Sure, the rich can afford to improve the house and land in appearance, but property values are based more on whether there are sales being made (and thus money being invested in the neighborhood) than on what the neighborhood looks like. In this way, the neighborhoods where there is more money are more valuable in the modern market mentality.
So too with any local services. Because we live in a “competition economy,” money is the deciding factor on whether something is worth keeping in the neighborhood. For example, a big-box hardware store can afford to build a new location where there is a locally owned and operated hardware store. It can also afford to sell more at a lower price. This means that although the people in the neighborhood have been happy to go to the other hardware store, it won’t win the competition because it doesn’t have as much money to compete. Furthermore, the people in the neighborhood will pay for the cheaper store and thus will cast their monetary vote for that store.
Those that are “more economically successful“ have a greater influence on the market than those who are “less.” In other words, the rich can do things the poor can’t, even if the poor have a better product. The only way the poorer people can compete is if they can get enough rich people to cast their monetary vote for them.
This obsession with a competitive, consumption-driven, majoritarian market translates nicely into the other realms of political life. The more money that goes into a certain initiative or candidate, the more important and valuable it seems. After all, without the support of money, nothing can get done. However, in a country split by special and individual interests, the richer special groups and individuals will always hold sway regardless of the “right” or “wrong.” Our political and economic system is, in fact, a behemoth of bribery. Political action is bought and sold daily. The federal government can refuse to give states federal funding if they don’t make the correct laws. There is no political will where there is no money.
This is what we get if we insist on the absolute neutral equality of political and economic action. When we allow any industry that can “succeed” and bring in money to the economy, we lose sight of any sense of something’s intrinsic worth. As long as enough people are investing in something, it is good. As long as enough people want a politician or a political platform, no matter how tenuously they want it, we have to accept it. After all, we live by social contract decided by a majority. Agreement is truth.
The problem is, money can buy agreement. Money can buy loyalty. Money can buy support. If only our personal interest is at stake, money can make anything palatable because it allows me to pursue my interest even if at the expense of something that we don’t like. Money is a moral equalizer.
And if that’s not a problem, I’m not sure what is.