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The subsequent decades of the 1980s and 1990s saw profound transformations in both the growth and representation regimes – shifting the relationship between capitalism and democracy and ushering in a different set of distributive outcomes.
- Abstract
- Representation regimes
- Acknowledgements GovtandOpp6
This paper argues that the relationship between capitalism and democracy is not immutable but subject to changes over time best understood as movements across distinctive growth and representation regimes. Growth regimes are the institutionalized practices central to how a country secures economic prosperity based on complementary sets of firm str...
Two issues are central to contemporary debates about the relationship between capitalism and democracy. The first, normally given the most attention, is: how much control do democratic governments exert over capitalist economies? But, since democracies are representative systems designed to speak for a popular will, an equally important issue is...
For comments on a draft of this paper, I am grateful to Peter Gourevitch, Deborah Mabbett, Jonas Pontusson, Mark Schwartz, Waltraud Schelkle, Ron Rogowski, Yeling Tan and Nicholas Ziegler. Georgina Evans provided helpful research assistance.
The environment for democracy has been further transformed by other slow-moving changes, among them the shift toward neoliberal economic policies, the legacy of the wars in Iraq and Afghanistan, and lowered expectations regarding democratic transitions.
Dec 31, 2023 · Despite neoliberal policies, the real market stagnation that started in the 1970s could not be eliminated, and the greed for more profit in financial markets led to a shift in the focus of capitalists from real markets to financial markets during the 1980s and 1990s.
May 24, 2016 · In a process unfolding over multiple stages – Thatcher (1979), Reagan (1980), and the Washington Consensus (1990) being particularly visible milestones – capitalism decoupled itself from democratic governance, step by step, from its social obligations and its political embedding (Streeck 2014, pp. 1, 5).
- Wolfgang Merkel
- wolfgang.merkel@wzb.eu
- 2016
neoliberals dealt with European integration in the 1980s allows us to assess how the relationship between the transnational neoliberal community and European integration evolved after the crucial turning point of the economic, social and monetary crises of the 1970s that embodied the so-called
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Jul 10, 2021 · Up to the 1990s, the embedded liberalism compromise seemed to be reconciling democracy and global capitalism. Embedded liberalism, however, has come under sustained pressure as globalization has advanced.
