Quote from Scottish historian Alexander Tytler
Reader comment on: Changing Expectations
Submitted by Tony Cassara (United States), May 17, 2011 14:46
In 1787 Scottish historian Alexander Tytler wrote: "A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess from the public treasury. From that moment on, the majority always votes for the candidate promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy."
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The Future of Capitalism replies:
I think this is a misquote. See here: http://en.wikipedia.org/wiki/Alexander_Fraser_Tytler#Misquotation_-_Tytler_Cycle
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