Democracy and Capitalism. Compatible systems?

Essay , 2014 , 7 Seiten , Note: 16

Politik - Politische Theorie und Ideengeschichte

Nowadays it appears widely accepted that democracy can only function in accordance with capitalism, especially because there is no example of a democracy that “endured in a country with a predominantly nonmarket economy.” However, there are also various scholars criticizing the relationship between democracy and capitalism, pointing out, that this relation is defined by fundamental tensions, therefore democracy and capitalism cannot go hand in hand with each other. This paper wants to critically examine the connection between these two concepts and evaluate whether they are compatible or not, starting with basic definitions of the concepts of market economy and democracy, then continuing with the arguments of those who say that both conceptions in fact need each other in order to compare them then with the claims of the opposing site and finally draw a conclusion on their link.

Inhaltsverzeichnis

• Are democracy and capitalism compatible?
• Introduction
• Democracy and Capitalism: A Necessary Connection?
• Historical Perspective
• Economic Freedoms as a Precondition for Political Freedoms
• The Role of Choice in Both Systems
• The Centrally Planned Economy as an Alternative
• Democracy and Capitalism: Inseparable?
• The Tension between Capitalism and Democracy
• Inequalities and the Justification of Capitalism
• Democracy and Capitalism: Incompatible?
• The Market as a Structure of Power Relations
• The Relationship between Economic and Political Freedoms
• The Intertwined Nature of the Political and Economic Spheres
• Conclusion
• Bibliography

Zielsetzung und Themenschwerpunkte

This paper critically examines the connection between democracy and capitalism, evaluating whether they are compatible or not. It begins with basic definitions of market economy and democracy, then explores arguments from both sides of the debate, ultimately drawing a conclusion on their link.

• The historical relationship between democracy and capitalism
• The role of economic freedoms in promoting political freedoms
• The tension between equality and inequality in democratic and capitalist systems
• The accountability of the market and the state in relation to the public
• The intertwined nature of the political and economic spheres under capitalism

Zusammenfassung der Kapitel

The paper begins by exploring the historical connection between democracy and capitalism, highlighting the argument that capitalism is a necessary condition for democracy. This argument is supported by the idea that economic freedoms, such as freedom of movement, exchange, and property, are essential for political freedoms, such as freedom of speech, assembly, and association. The paper also examines the role of choice in both systems, arguing that both democracy and capitalism empower individuals to make choices, whether as voters or consumers.

The paper then delves into the argument that democracy and capitalism are inseparable, focusing on the notion that a centrally planned economy is an inadequate alternative. This argument is supported by the idea that a market economy limits the power of the state, preventing a concentration of power and promoting accountability. The paper also explores the tension between capitalism and democracy, acknowledging that capitalism can exacerbate economic and social inequalities, which can undermine democratic institutions.

Finally, the paper examines the argument that democracy and capitalism are incompatible, highlighting the socialist perspective that capitalism inherently undermines democracy. This argument is based on the idea that the market is a structure of power relations that is not accountable to the public, and that the economic sphere ultimately controls the political sphere under capitalism.

Schlüsselwörter

The keywords and focus themes of the text include democracy, capitalism, market economy, economic freedoms, political freedoms, equality, inequality, accountability, power relations, and the relationship between the political and economic spheres.

• Hochschule: University of Aberdeen
• Note: 16
• Autor: Felix Wiebrecht (Autor:in)
• Erscheinungsjahr: 2014
• Seiten: 7
• Katalognummer: V277315
• ISBN (eBook): 9783656704133
• ISBN (Buch): 9783656707035
• Sprache: Englisch
• Schlagworte: democracy, capitalism, compatible