Another article via Marcus. Here's a brief excerpt (you can find the article here):

"BUT THIS intellectual victory for the dynamic duo didn't resolve the tension between them. Democracy presumes and enshrines equality. Capitalism not only presumes but requires and produces inequality. How can you have a society based on equality and inequality at the same time? The classic answer is that democracy and capitalism should reign in their own separate “spheres” (philosopher Michael Walzer’s term). As citizens, we are all equal. As players in the economy, we enjoy differing rewards depending on our efforts, talents, or luck."

I haven't read the rest yet, but this paragraph speaks for itself. I don't know if the author doesn't realize that he's using the word "equality" in two very different context or if he's like most people and doesn't understand democracy.

Democracy does presuppose equality, but it's one of the dignity of all citizens (Christianity took care of that back in the days of kings and queens better than democracy does nowadays, but anyway...). Capitalism only presupposes an inequality of outcome, but even then it is geared towards the collective improvement of man's physical well-being. Sure, we still have rich and poor people in the 21st century. However, the poorest American still lives better than kings did just a few centuries ago.