Yes, voting has always involved "buying in" one way or another. In Athens, you had to be a natural citizen - naturalization was rare. Rome extended citizenship as it expanded along Italy and then across the Mediterranean. In the late Republic and Empire, many Greek cities did not pay taxes as such. Later, to fund the Empire with new taxes, new citizenship was extended to more cities. Citizenship did not bring voting rights, but it brought the right to trial and ultimately (in theory) the right to appeal to the emperor himself - it is famously known that the Christian apostle Saul called ("Paul") was a Roman citizen because his home city, Tarshish, paid taxes. As America was being formed, the old medieval standards still applied: you had to own land, and pay some amount of tax on it. Merchants often lacked franchise as they rented their homes in the city. They also owned free and clear very little of the property that passed through their warehouses. Joint stock companies were a new invention, but rested on older forms. Clearly, partners shared in the profits in proportion to their investment in the enterprise. So, too, with joint stock companies, then, did each share come with one vote. It is the capitalist way. In a world where Objectivism is accepted broadly - not necessarily consistently - the way that religion is accepted today, we might have a more capitalist constitution. Note the lowercase "c." A constitution is just the political organization, the business rules of the government. It is famous that England (then Great Britain and the UK) has a constitution, only that unlike the American one, theirs is not written down in a single document. Today, most of the 180 nations and their very many autonomous regions, "states", departments, prefectures, etc., all have constitutions. Mere "constitutional_ism" is no guarantee of individual rights by an objective standard. We have an autobiography here of a USSR KGB general who narrowly escaped execution during a modern change of power - Andropov after Brezhnev, perhaps. He and his wife were both KGB generals. He thought that she was a medical doctor. Turns out she was a lawyer. When the Moscow city police came to arrest him, she showed her credentials, inspected their warrants, found the papers lacking, and sent them away. Why did the KGB even need lawyers, except that the USSR was a constitutional republic where constitutional-ism was important? How could a lawyer stop the police in the USSR if the USSR was a ruthless, capricious dictatorship? Of course, such niceties may only have been for VIPs - or maybe not. We know that society from a great distance of time and space and culture. The point is that mere constitutional-ism does little for capitalism. England was a great (nearly) capitalist nation without a written constitution. But they had an implicit acceptance of the very same principles underlying the document of the United States. In fact, one the elements of the British constitution is their Bill of Rights 1689, which is (not surprisingly) very similar to our own Ten Amendments. Those were the very rights that the founders of our republic wanted. Had the king and parliament recognized them explicitly and applied them across the British Empire, history might have played out differently... An imperial parliament at center with regional parliaments in India, New England, the Caribbean, etc.... Be that as it may or may not have been, the success of our civilization grew from an implicit acceptance of the Enlightenment, the scientific method, individual rights, and free enterprise. What would an explicit acceptance look like? The Atlas Society is currently complaining about "the fourth branch of government" i.e., the unelected bureaucracy. But how are they different from any management of any corporation? The shareholders do not elect the managers. They elect a board of trustees or governors. Those people hire a CEO and maybe another or two C-level officers. At the local level of government, many cities have council-manager arrangements. Given all of that, it just seems interesting, and perhaps profitable to consider the value in granting more votes to those who own more shares. Right now, Treasury Bills are denominated at $1000 each. It seems like a nice round number. (Edited by Michael E. Marotta on 4/01, 3:16am)
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