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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...
Dec 31, 2023 · This approach argued that a strong democracy would lead to capitalism, individual freedoms would be guaranteed under the capitalist system, and capitalist development would in turn lead to democratic development.
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.
Can a healthy capitalist system exist outside of a well-functioning democracy? On this episode of the Capitalisn’t podcast, hosts Luigi Zingales and Bethany McLean discuss how capitalism and democracy complement each other and explain why each system helps balance the other.
- Market-Liberal Capitalism
- Organized and Embedded Capitalism
- Neoliberal Capitalism
Coined by the prevailing market principles in the relationship between different companies, this type was dominant in Europe and North America throughout much of the nineteenth century. State institutions in this context largely refrained from interfering in markets (including labor markets), and economic and social policy (Berend and Schubert 2007...
Within the context of technological and organizational innovations, capitalism developed internal needs for coordination and regulation. Moreover, a barely regulated form of capitalism resulted in increasing social tensions. Together, these two factors were the driving force behind a more organized form of capitalism. This became visible on several...
Since the late 1970s, “neoliberal” critique has gained traction, sometimes in sharp contrast to Keynesian welfare state capitalism. It stressed market mechanisms, the principle of capitalist self-regulation and the limits of state regulation (Harvey 2007). John Maynard Keynes’s concept of managing capitalism through the demand side and Karl Polanyi...
- Wolfgang Merkel
- wolfgang.merkel@wzb.eu
- 2014
dynamics of capitalism have overwhelmed democracy, while others argue that democratic polities retain control over capitalist economies (cf. Streeck 20 17; Hopkin and Blyth 2019; Iversen and Soskice 2019).
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This chapter examines the interrelationships between democracy on the one hand and capitalism (or what I prefer to call “the liberal economy”) on the other. Liberal thinkers tend to maintain that the two are allies, at least as long as democracy is (constitutionally or otherwise) limited.
