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2 results

The Fading Light of Democratic Capitalism

The Fading Light of Democratic Capitalism
  • How Pervasive Cronyism and Restricted Suffrage are Destroying Democratic Capitalism as a National Ideal … And What to do About it
  • Malcolm S. Salter
  • Published online:
    14 November 2024
    Print publication:
    28 November 2024
  • This Element discusses how pervasive cronyism and restricted suffrage are destroying democratic capitalism as a national ideal and offers suggestions on how the promise of US-style democratic capitalism can be restored. To this end, the author draws on the work of political philosopher and democracy advocate Danielle Allen in calling attention to the principle of political equality, as well as the two related sub-principles of reciprocity and power sharing, as essential guides. Based on these ideas, a series of practical steps is suggested to make economic and political markets more democratic by curbing cronyism and expanding citizens' access to the political processes governing the nation. The author also discusses how private corporations can become more 'democracy supporting.' The Element ends with some reflections on the moral culture required to restore and sustain public trust and confidence in democratic capitalism as a system of economic and political governance.

  • 9 - Electoral Realignments in the Atlantic World

  • from Part III - Politics
  • Edited by Frances McCall Rosenbluth, Yale University, Connecticut, Margaret Weir, Brown University, Rhode Island
  • Book:
    Who Gets What?
    Published online:
    20 August 2021
    Print publication:
    29 July 2021, pp 213-236

  • Summary

    The consensual, moderate politics that characterized the golden age of democratic capitalism hasgiven way, in the past decades, to growing public dissatisfaction toward political elites,ideological polarization, and the rise of populist parties. This chapter starts by exploring theeconomic foundations of that remarkable political turnaround. It then describes the historicalsequence through which populist movements took advantage of those changes. And it concludesby discussing potential responses to the new economic and political challenges faced byadvanced economies.