Abstract
The article focuses on the constitutional characteristics of the Czech Republic as a democracy based on the rule of law which, using the holistic analysis of democratic discourse, confronts with the theory of elites understanding of the people, with the transmission of the will of the people into the legislation, as the key factor of any democracy, and with the recent empirical research in the field of political science and sociology. The article founds the democracy in the Czech Republic severely disrupted by the long-term concentration of capital in the hands of the small group within the society dominating the electoral elites - the elites of capital.
The constitutionally enshrined principles of democracy, rule of law and social dimension of the ownership are the reasons for the conclusion of the constitutional imperative to the state power to democratise the economy by regulating the cumulation of the capital, i.e. by preventing the cumulation of the capital.