A democracy is a majority based governing system. Voters elect candidates to run the government. The political system will not reflect the will of the majority unless the monetary system is also democratic, A monetary monarchy is as economically restrictive as a political monarchy.
Money is a resource that functions as the life blood of the economy. When it is monopolized, portions of the community are isolated. With no source of income, they can’t earn, they can’t produce, and they burden the producing portion of the community. Monopolies cause monetary clots, that isolate the majority of the citizenry.
A democratic government has one economic function, to protect all of its citizens. That allows its citizens to work together for common and individual good that can focus its creative energy, and aptitude on team efforts. That is impossible in an environment of distrust.
The role of ethics, kindness, in economics is not a moral issue, but a practical one that affects the veracity of every economic mathematical calculation. On the celestial lifeboat, Earth, kindness is as important as food and water to the safe navigation of the lifeboat. And, it is the only chance that the occupants will recognize that the group effort will increase their individual health, safety, and potential.
Personal financial responsibility has economic importance. Saving for times of hardship is prudent, but beyond that people have the responsibility for tracking the money that they receive, and spend. It is bad economics to loan someone money to buy a gun that they are going to shoot you with. A democratic government has the responsibility to clearly illuminate the path of money. Sound economic policy requires clarity to keep citizens from working for their own demise.
The cloak of secrecy around the flow of money is economic friction. Removing that cloak will prove to be more important to humanity than the invention of the wheel. Education, common sense, hard work, and kindness are of little economic consequence if the monetary lifeblood of our existence clandestinely flows to monetary monarchial parasites.