Capitalists are not undemocratic.
The argument that capitalists are undemocratic about socialism is invalid.
Democracy is where all eligible citizens participate equally in the proposal, development,
and creation of laws. It is a form of government.
Capitalism as a form of economy, is therefore the result of democracy... By it's very existence it can then not be undemocratic.
Socialism could lead to Zimbabwe
I submit that Capitalism strives for profit and therefor inspires productivity, innovation, investment and economic growth within individuals.
Socialism, and eventual Communism, does not inspire any of the above. Take for example, the people who live on social grants without contributing to society.
Therefor I predict that a drastic change towards socialism, without a lengthy process of reform, will cause a collapse in societal productivity, resulting in economic failure, runaway inflation and absolute poverty, the likes of which we have never seen.
The capital will escape
If Socialism and/or communism comes into full swing, the majority of capitalists will withdraw from South Africa. This might sound like a great idea to many racists... but the rich will take all their wealth with them.
That also means the government loses its tax base.... all of it goes and a government becomes poor, trying to cater to the poor laborers who remain with no employment.
Capitalism enriches the public more.I have mentioned how a radical change to socialism leaves the country without taxes.
However WITH capitalism as it is, the rich (and even medium wage) are contributing an unimaginable amount of money in taxes.
If the government is not corrupt (as it is now) then the people ought to be well taken care of.
The real question is then, where did all that money go. Perhaps this snapshot from the times is a good indication.