Think of this as Volume 18, Number 40 of the newsletter I have written weekly since March, 1997. Enjoy.
That threat is to democracy.
Democracy matters for the same reason capitalism matters, and for the same reason liberty matters. Democracy gives a society flexibility. In times of rapid change, and all times are times of rapid change, flexibility matters a lot.
Flexibility means you can adjust to change. And flexibility always comes from the bottom-up, never the top-down. Incumbent leaders either have a set direction that has always worked for them, or demand a set direction whether it is working or not. They want to stay on top, and that desire will always trump the need for change.
Democracy changes leaders. Capitalism brings change to the mix of products and services offered for sale. Liberty delivers new ideas and concepts to the market, to society, and eventually to leaders.
What drives democracy under is tribalism. When people are aligned by tribe, they stop responding to signals for change that are all around them. They follow their tribal leaders instead.