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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. Yet, the financialization of capitalism since the 1980s has broken the precarious capitalist-democratic compromise.
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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...
Indeed, as many theories of the capitalist state have argued, non-capitalists often perform much better as political managers of capitalism than capitalists would themselves – all of which means that capitalism is an economic system that is compatible with electoral or formal democracy.
Mar 9, 2018 · Under capitalism, decisions and their implementation lead to a degree of economic and social inequality (in income, wealth, power, and life chances) that is hardly acceptable in a democracy built on principles rooted in equal rights, opportunities, and duties.
- Wolfgang Merkel
- wolfgang.merkel@wzb.eu
- 2014
Sep 8, 2022 · In this chapter I review four ways of theorizing the relationship between capitalism and democracy. Classical liberalism has long maintained that capitalism and democracy are complementary—that both mutually reinforce the same demand for freedom or, at the very...
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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.