The decade that followed — the roaring 1920s — was so strong that historians have forgotten the depression that started it. The 1920s were the last decade in American history during which one could be genuinely optimistic about politics. Since 1920, the vast increase in welfare beneficiaries and the extension of the franchise to women — two constituencies that are notoriously tough for libertarians — have rendered the notion of "capitalist democracy" into an oxymoron.
28 April 2009
Libertarian freakazoid blames the downfall of American democracy on the female franchise
Peter Thiel is a founder of PayPal and current hedge fund bazillionaire. He's written a thoughtful piece, blaming the downfall of American democracy on the female franchise, for the Cato Institute: