Democratic capitalism

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Democratic capitalism, also known as capitalist democracy, is a political ideology and economic theory that combines liberal democracy with capitalism to support individual freedom and pluralism.[1][2] It stands in contrast to corporatism by limiting the influence of special interest groups, including corporate lobbyists, on politics.

The coexistence of modern capitalism and democracy was supported by 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]

History[edit]

The ideology of democratic capitalism has been in existence since medieval times. It is based firmly on the principles of liberalism and Whig historiography which include liberty and equality. Some of its most prominent promoters were the Founding Fathers of the United States and subsequent Jeffersonians.[4]

See also[edit]

Notes[edit]

  1. ^ Novak, Michael, The Spirit of Democratic Capitalism, p. 31
  2. ^ Benne, Robert, The Ethic of Democratic Capitalism, p. 97, ISBN 0-8006-1445-3
  3. ^ Muller, Jerry Z. (March 2013). "Capitalism and Inequality". Foreign Affairs.
  4. ^ Prindle, David, The Paradox of Democratic Capitalism: Politics and Economics in American Thought, ISBN 0-8018-8411-X

References[edit]

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