Capitalism and democracy
Subtitle: a fragile alliance
By: Theo van de Klundert
Series: New horizons in institutional and evolutionary economics; New horizons in institutional and evolutionary economics
Publisher: Edward Elgar
Published: 2013
Place of publication: Cheltenham, UK
Language: eng
Number of pages: 209
ISBN-13: 9781781956151; 9781781956168
Subjects: Capitalism; Political aspects; Democracy; Economic aspects; Demokratie; Kapitalismus; Wirtschaftsentwicklung
Description: Capitalism is driven by technological revolutions, leading to alternating periods of regulation and deregulation in leading economies. Technologically backward countries face a different situation as they have to catch up with the leaders. Against this backdrop, Theo van de Klundert examines the relationship between capitalism and democracy, combining economic theory and historical description to analyse long-run economic development. Emphasis is placed on the interrelation between economic and political power, and a robust state-of-the-art overview of todays political economy is presented. The author addresses two fundamental questions raised in the analysis of the relationship between capitalism and democracy. Firstly, he explores why capitalism in leading economies is characterized by alternating periods of regulation and deregulation, and secondly, whether developing countries can opt for different types of capitalism once the potential for catching up with developed countries has expired. The consequences of a shift in the balance of power in the global economy are also considered in detail. Broad in scope and employing various methodological approaches, this book will prove a fascinating read for academics, students and researchers in the fields of economics and heterodox economics.
Notes: Includes bibliographical references (pages 190-199) and index.