Transcription of Is capitalism compatible with democracy?
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Essay1 3 Prof. Dr. W. Merkel ( )Abteilung Demokratie und Demokratisierung, Wissenschaftszentrum Berlin f r Sozialforschung WZB,Reichpietschufer 50,10785 Berlin, Deutschlande-mail: capitalism compatible with democracy ?Wolfgang MerkelZ Vgl Polit WissDOI capitalism and democracy follow different logics: unequally distributed property rights on the one hand, equal civic and political rights on the other; profit-oriented trade within capitalism in contrast to the search for the common good within democracy ; debate, compromise and majority decision-making within demo-cratic politics versus hierarchical decision-making by managers and capital owners. capitalism is not democratic, democracy not the first postwar decades, tensions between the two were moderated through the socio-political embedding of capitalism by an interventionist tax and welfare state.
Is capitalism compatible with democracy? 3 1 3 of economic systems has been clearly won. Yet capitalism, used in singular form, conceals the differences in the “varieties of capitalism” (Hall and Soskice 2001).2 China’s state capitalism, the Anglo-Saxon neoliberal strand of …
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