"People want to live first and philosophize a bit later."

That seems to be the case for most which would mean that most have it backwards now a days.

"... do not have or destroy their financial markets ... most people wanting access to capital have no other option but to turn to government, which will raise the money - either through taxes or borrowing"

First of all, capital is not money or "money" (that [currencies, tokens] which people have been led to believe are as good as money). It is the means of production: heavy machinery, hand tools, computers, code, certain humans and so forth. It's curious that he said "through taxes". If gotten through taxation, that means that it already existed, was already created. It wasn't "raised" by government. Government may have been preventing it from being used to create more value/wealth, however.

"... Western Civilization, which is built on the concept of prosperity ..."

Originally, way way back, back in the renaissance days, I believe, it was built on Aristotelian logic, the maximum use of requires maximum freedom. Considering where the heads of people in Western Civilization, the Anglo Saxon world, the English speaking world, are, we're heading back into a dark age. Good luck.

"Power is dispersed within democracies, and democracies are always weakened when more money flows through government hands."

Currently it seems that there are no democracies in the world, so not sure why he is talking about them. Anyways, a weak democracy would be one where little "money" flows through a government's hands. A strong one, the opposite. Strong enough so that it ends up having a violent death, strong enough to destroy an economy.

Same goes for good (there are some really bad ones) constitutional republics that more and more ignore their constitution (the law of the land) and evolve more and more into, in effect, a democracy.

"Conversely, when capital markets are opened, ..."

Another misuse of the word capital. Stored value in the form of a money, currency or token gets traded on financial markets.

"As independent sources of capital surface, political power is dispersed"

Political power has to be dispersed first before independent sources of stored value surface.

"Capital markets are the unique feature of the West, and their democratization is the key to the civilizing process..."

More freedom is the key, not democracy (the opposite).

"Democracy is four wolves and a sheep voting on what's for dinner."
"Democracy: The crude leading the crud."
"Democracy - the worship of jackals by jackasses."

Something's got to be wrong when statists from republics are busy pushing democracy on every Tom, Dick and Harry in the world rather than their own form of government, a republic.

I don't know. This guy could be a statist in free market drag.

One thing is for sure, more or stronger democracy is the opposite of what is required for better/larger/freer/more dependable/less fraudulent/cheaper/faster markets for financial instruments.