... it is precisely because it is not a democracy that China will likely be so successful...What is of vital importance for economic success is economic freedom, meaning the protection of private property, the rule of law, and minimal regulation and taxation, not the right to vote. (Peter Schiff)

... it is precisely because it is not a democracy that China will likely be so successful...What is of vital importance for economic success is economic freedom, meaning the protection of private property, the rule of law, and minimal regulation and taxation, not the right to vote.

Peter Schiff

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china democracy freedom importance law likely meaning private property protection regulation right rule success taxation vital vote minimal

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The right to vote is a consequence, not a primary cause, of a free social system-and its value depends on the constitutional structure implementing and strictly delimiting the voters' power; unlimited majority rule is an instance of the principle of tyranny.

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