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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 9, 2018 · Financial capitalism is harmful for democracy, since it has cracked its social and political “embeddedness.” This does not mean that capitalism per se is incompatible with democracy. A sustainable coexistence of capitalism and democracy is best achieved through mutual embedding.
- Wolfgang Merkel
- wolfgang.merkel@wzb.eu
- 2014
But the truly distinctive thing about capitalism is that it is compatible with formal electoral democracy. No other surplus-appropriating class in history has permitted a political system which grants suffrage rights to at least a significant portion of the direct producers (under capitalism, the working class).
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...
- Wolfgang Merkel
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.
People also ask
Is capitalism compatible with electoral democracy?
Is capitalism compatible with political forms other than liberal democracy?
Is capitalism incompatible with democracy?
How does global capitalism affect democracy?
Is capitalism Democratic?
Can Capitalism prosper under both Democratic and authoritarian regimes?
I focus on three causal pathways by which globalization might be undermining (stable) democracy. These involve rising economic inequality, personal insecurity, and global interdependence. The next section explores what can be done to try to make global capitalism more compatible with democracy.