The problem of persistent minorities is not a problem specific todemocracy, since it is general to every form of society. For example, thesituation in some ethnic groups within the United States may beinsulated from the rest of the population due to perceptions of race.While this group may feel like a minority, the others may not.The same is true for some of the more recent immigrant groups inthe United States. For example, many people in the Latino communityin the Southwest have no problem with being recognized as aminority, but the general populace does not have any of theappreciation for the special problems of the Latino community thatmight be intuitively felt by those with some community ofinterest.
When the minority is not persistent, it is not a problem. Theminority has merely turned out to be a temporary majority. Theproblem of persistent minorities is likely to occur only in theinitial phases of democracy when the minority has some specialidentity or special concerns, which can be accommodated orattempted to be accommodated in the larger society. Once the minorityhas become a minority, it will be easier for it to be accommodated,since it is no longer special. Thus the problem of persistentminorities is likely to be felt most in the initial phases ofdemocracy, when the demographics of the society are not yet fullydetermined.
Finally, there is the idea that democratic procedures are justbecause the society is one in which all enjoy equal rights and liberty.This is called republicanism. The main problem with this account isthat it is difficult to see how both democracy and republicanismcannot be inherent in a single ideal decision making process.Republicans often appeal to the history of the American republic asan argument that democracy must have worked in America – and thisis a good argument against any theory that would deny the valueand desirability of democracy (Wolf 1982). However, republicans canchoose to give the credit to themselves and their predecessors forhaving had the wisdom to initiate and preserve a republican form ofgovernment.
Peer Group Questions – Think about the size of the private equity firm and the industry you are applying to. How did the firm decide to go with that size? Can you think of a situation where a firm would consider a different size? What kind of questions would you ask to determine whether a particular size or industry is right for you?
To decide which one should you opt for, one needs to look at the business as a whole. Doing so will give a better understanding of how the business functions, how profitable it is, how the management team is doing and what problems it might face in the future. It also helps to determine if there are any other reasons as to why you should or shouldn’t be interested in the company. Companies with a higher ROE are considered more attractive as well as have a higher Return on invested capital (ROIC). This helps determine if you need to invest in the company. 827ec27edc