alt Hacker News> the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.
Except, of course, that this is historically wrong. Transitions from democracy to dictatorship are common, but I cannot think of one that happened because of "loose fiscal policy".
Replies
tolciho • today at 5:14 PM
Athens spending like drunken sailors during the Peloponnesian War and the subsequent Oligarchical Coup d’Etat comes to mind. Or must the dictator be just one person and not a bunch of Orwell's pigs?
If the Central Intelligence Agency’s definition of ‘loose fiscal policy’ is good enough, Pinochet’s rise is a good example.