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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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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...
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.
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.
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
Oct 1, 2014 · Capitalism and democracy follow different logics: unequally distributed property rights on the one hand, equal civic and political rights on the other; profit-oriented trade within capitalism...
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This framework produces a new understanding of democracy and the rule of law, including the institutions necessary to sustain both thriving markets and democracy. Democratic theorists who seek unfettered democracy take democratic stability for granted. Yet most democracies fail, and in short order.