Political Freedom v. Economic Freedom

I’ve always wondered why people are debating over whether political freedom should precede economic freedom or vice-versa . . . as if one could exist without the other, as if one could make do at the exclusion of the other. To Aristotle, the nature of the whole is the completion of its parts.

However, there are indeed countries out there that seem to exhibit one form of freedom at the expense of the other. China, for instance, well on its way to an unprecedented level of economic prosperity in its history, has an authoritarian capitalist system. Its authoritarian culture has enabled its government to engage in capitalist ventures and economic activities without receiving as much opposition or resistance from its people. The problem with this economic arrangement is wealth has not trickled down, with the Communist Party officials remaining as the main beneficiary of China's booming economy. Dissent in the form of labor unrest especially in rural areas does take place, until the CCP so decides it’s time for a political crackdown.

I guess the success of a market solution to the world's problems will always hinge on political reforms. If we have enlightened statesmen at the helm, a fair court system that is in place, rules that have teeth, etc., then the market will always work. Agitated Chinese laborers protesting for fair wages and fair labor practices will need a channel with which to redress their grievances. Conversely, greedy private-entrepreneurs-turned-mafias who are now willing to use every power they have to maintain their wealth need to be reined in.

But political reforms only work if politics is viewed in its rightful sense, i.e, that it is there to dispense justice for the sake of achieving the common good; that it is supposed to secure and protect individual rights; and that it is not merely for administrative or regulatory functions. If we develop contempt for it because of its corrupt politicians, administrative overreach, and wasteful mismanagement, then the very power that can transform society towards the good will continue to remain in the hands of these thugs.