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Jul 26, 2014 · Capitalism is not democratic, democracy not capitalist. During the first postwar decades, tensions between the two were moderated through the socio-political embedding of capitalism by an interventionist tax and welfare state.
- Wolfgang Merkel
- wolfgang.merkel@wzb.eu
- 2014
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.
Capitalists’ toleration of electoral democracy has two well-defined limits, however: one derives from the balance of power between capital and labour, and the other from structural features of capitalist economies.
If we define a democracy simply as a society that selects leaders through some form of election, or if we define a capitalist society simply as one where economic actors pursue profits, then, we show, the relationship between democracy and economic development disappears.
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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Jul 7, 2011 · Instead, the dominant approach to the study of capitalism as an economic system builds on new institutional economics and is known as the “varieties of capitalism” (or VoC) approach (Hall and Soskice 2001). Just as democracy has been shown to divide into institutional subspecies, so has capitalism.
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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 in...
