Well said. I agree that Tocqueville was misattributed the quote. Remove his association and the statement remains true.
"When the people find that they can vote themselves money that will herald the end of the republic." Franklin
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From: GJAbbott via groups.io
Sent: Friday, April 2, 2021 9:53 AM
To: TSPStrategy@groups.io
Subject: Re: [TSPStrategy] Still in G?
"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
― Alexis de Tocqueville
Just FYI, but there is no historical record of Alexis de Tocqueville either saying or writing the cited quote. The anti-democracy Scottish academic Alexander Fraser Tytler (aka Lord Woodhouselee), however, did express similar sentiments. An op-ed piece in the 12/9/1951 The Daily Oklahoman, is credited with popularizing the original version of Tytler's full quote:
"A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury. After that, the majority always votes for the candidate promising the most benefits with the result the democracy collapses because of the loose fiscal policy ensuing, always to be followed by a dictatorship, then a monarchy"
The quote has appeared in various forms since the 1950's frequently misattributed to the much better known de Tocqueville. Several historians have noted that the version cited suggests a 20th century cynicism and is inconsistent with 18th century writings.
"The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
― Alexis de Tocqueville
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