Do modern democracies sow the seeds of their own destruction? - but in a cis-happy, diverse, non discriminatory way.
These seven biases and perverse incentives may lead us toward authoritarianism, demagoguery and fiscal collapse. Remember: Positivity is overrated.
Do natural biases and incentives generated by modern democracies, especially those amplified and distorted by digital media's prismatic effects, naturally move democracies toward authoritarianism, demagoguery, and fiscal collapse? What are the biases?
1. Biases toward the present are well documented; some are undoubtedly related to a fear of death. Though biblically frowned upon, the "Eat, drink, and be merry for tomorrow I may die" mindset has existed for thousands of years. The future offers no immediate feedback loops, so no alarms go off when one doesn't save for the future or when the government spends tomorrow's tax dollars (plus accumulated interest) to get benefits and votes today.
For example, if a 25-year-old started saving $500/month at 25 and retired at 65, they would end up with about $1.7 million. For a 50-year-old to match that nest egg, they would have to invest over $5000/month. (8% pa growth). Over one-third of Canadians over 45 have no retirement savings.
The Canad…
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