Noam Chomsky: A World in Peril

Noam Chomsky and David Barsamian discuss A World in Peril.

Functioning democracy erodes as a natural effect of the concentration of economic power, which translates at once to political power by familiar means, but also for deeper and more principled reasons. The doctrinal pretense is that the transfer of decision-making from the public sector to the “market” contributes to individual freedom, but the reality is different. The transfer is from public institutions, in which voters have some say, insofar as democracy is functioning, to private tyrannies — the corporations that dominate the economy — in which voters have no say at all. In Europe, there is an even more direct method of undermining the threat of democracy: placing crucial decisions in the hands of the unelected troika — the International Monetary Fund, the European Central Bank, and the European Commission — which heeds the northern banks and the creditor community, not the voting population.

Emphasis Mine

Capitalism destroys Democracy.