World Library  
Flag as Inappropriate
Email this Article

Democratic capitalism

Article Id: WHEBN0000647199
Reproduction Date:

Title: Democratic capitalism  
Author: World Heritage Encyclopedia
Language: English
Subject: Capitalism, Liberalism, Classical liberalism, Economic liberalism, Manchester Liberalism
Collection: Capitalism, Democracy, Economic Ideologies, Ideologies of Capitalism
Publisher: World Heritage Encyclopedia
Publication
Date:
 

Democratic capitalism

Democratic capitalism, also known as capitalist democracy, is a political, economic and social ideology that involves the combination of a democratic political system with a capitalist economic system. It is based on a tripartite arrangement of a private sector-driven market economy based predominantly on a democratic policy, economic incentives through free markets, fiscal responsibility and a liberal moral-cultural system which encourages pluralism.[1][2] This ideology supports a capitalist economy subject to control by a democratic political system that is supported by the majority. It stands in contrast to authoritarian capitalism by limiting the influence of special interest groups, including corporate lobbyists, on politics.

It is argued that the coexistence of modern capitalism and democracy was the result of the creation of the modern welfare state in the post-war period, which enabled a relatively stable political atmosphere and widespread support for capitalism. This period of history is often referred to as the "Golden Age of Capitalism".[3]

Contents

  • History 1
  • See also 2
  • Notes 3
  • References 4
  • External links 5

History

The ideology of "democratic capitalism" has been in existence since medieval times. It is based firmly on the principles of liberalism, which include liberty and equality. Some of its earliest promoters include many of the American founding fathers and subsequent Jeffersonians.[4]

See also

Notes

  1. ^  
  2. ^ Benne, Robert, The Ethic of Democratic Capitalism, p. 97,  
  3. ^ Capitalism and Inequality, by Muller, Jerry Z. 2013. Foreign Affairs, March 2013.
  4. ^  

References

  •  
  •  
  • Benne, Robert (1981), The Ethic of Democratic Capitalism: A Moral Reassessment, Philadelphia: Fortress Press,  
  •  
  •  

External links

  • The Conceptual Foundations of Democratic Capitalism
  • Michael Novak's Portrait of Democratic Capitalism


This article was sourced from Creative Commons Attribution-ShareAlike License; additional terms may apply. World Heritage Encyclopedia content is assembled from numerous content providers, Open Access Publishing, and in compliance with The Fair Access to Science and Technology Research Act (FASTR), Wikimedia Foundation, Inc., Public Library of Science, The Encyclopedia of Life, Open Book Publishers (OBP), PubMed, U.S. National Library of Medicine, National Center for Biotechnology Information, U.S. National Library of Medicine, National Institutes of Health (NIH), U.S. Department of Health & Human Services, and USA.gov, which sources content from all federal, state, local, tribal, and territorial government publication portals (.gov, .mil, .edu). Funding for USA.gov and content contributors is made possible from the U.S. Congress, E-Government Act of 2002.
 
Crowd sourced content that is contributed to World Heritage Encyclopedia is peer reviewed and edited by our editorial staff to ensure quality scholarly research articles.
 
By using this site, you agree to the Terms of Use and Privacy Policy. World Heritage Encyclopedia™ is a registered trademark of the World Public Library Association, a non-profit organization.
 



Copyright © World Library Foundation. All rights reserved. eBooks from World Library are sponsored by the World Library Foundation,
a 501c(4) Member's Support Non-Profit Organization, and is NOT affiliated with any governmental agency or department.