Democracy and Prosperity: Reinventing Capitalism through a Turbulent Century

Advanced democracies and global capitalism mutually support each other, according to Torben Iversen and David Soskice. They argue that democratic states reinvent their economies through public investment, competitive markets, and cooperation, and that advanced capitalism thrives under democracy because it cannot subvert it.

\n Format: Paperback / softback
\n Length: 360 pages
\n Publication date: 03 November 2020
\n Publisher: Princeton University Press
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It is a common belief that democracy and the advanced nation-state are facing crises, weakened by globalization and undermined by global capitalism. However, Torben Iversen and David Soskice argue that this view is incorrect. In reality, advanced democracies are resilient, and their long-standing relationship with capitalism has been mutually beneficial. Iversen and Soskice demonstrate how democratic states continually reinvent their economies through public investment in research and education, the establishment of competitive product markets, and cooperation in the workplace. They also emphasize the importance of securing macroeconomic discipline as the foundation for innovation and the promotion of advanced sectors of the economy.

Challenging the prevailing wisdom on globalization, Democracy and Prosperity reveals how advanced capitalism is neither free-floating nor unconstrained. It thrives under democracy precisely because it cannot subvert it. By examining the historical and contemporary dynamics between democracy and capitalism, Iversen and Soskice provide a comprehensive and insightful analysis that challenges the notion of their inherent incompatibility. Their book offers valuable insights for policymakers, scholars, and anyone interested in understanding the complex relationship between these two powerful forces shaping our world.

\n Weight: 580g\n
Dimension: 156 x 234 x 25 (mm)\n
ISBN-13: 9780691210216\n \n