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But there is a decisive difference: whereas certain forms of capitalism produce and function with an extreme concentration of wealth and capital, democracies cannot coexist with a similar constellation and concentration of power. Finally, capitalism and democracy can support each other.
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Jul 10, 2021 · Global capitalism seems to be placing democracy, especially liberal democracy, under considerable stress. Support for populism has surged, especially for extreme right parties with populist and authoritarian programs.
Mar 11, 2020 · Democracy and capitalism coexist in many variations around the world, each continuously reshaped by the conditions and the people forming them. Increasingly, people have deep concerns about...
This paper advances a framework for understanding democratic stability, including three conditions: the limit condition, which enhances democracy’s survival by lowering the stakes of politics and preventing coups; the consensus condition which supports citizen-coordination to defend against possible transgressions; and the adaptation condition...
- Barry R. Weingast
- 2015
Mar 9, 2018 · The labels for this type of capitalism vary: “organized capitalism,” “coordinated capitalism,” “Keynesian welfare state” (KWS), or “Fordism.” We use the first two terms interchangeably and take KWS as a variety of “coordinated capitalism” that is particularly compatible with democracy.
- Wolfgang Merkel
- wolfgang.merkel@wzb.eu
- 2014
How are we to understand the relationship between capitalism and democracy? This issue is on the public agenda again. “Is Capitalism a Threat to Democracy?” asks an article in The New Yorker. “Are Capitalism and Democracy Compatible?” asks the Huffington Post.
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Sep 11, 2019 · Is contemporary capitalism compatible with liberal democracy? The glib answer, though not wrong, is that it had better be. There are no known examples of fully socialized economies with a...