[PDF] Democracy and Prosperity The Reinvention of Capitalism in a Turbulent Century by Torben Iversen, David Soskice | Perlego
Get access to over 650,000 titles
Start your free trial today and explore our endless library.
Start free trial
Join perlego now to get access to over 650,000 books
Join perlego now to get access to over 650,000 books
Democracy and Prosperity
Democracy and Prosperity

Democracy and Prosperity

The Reinvention of Capitalism in a Turbulent Century
Torben Iversen, David Soskice
Start free trial
shareBook
Share book
language
English
format
PDF
availableOnMobile
Available on iOS & Android

Democracy and Prosperity

The Reinvention of Capitalism in a Turbulent Century
Torben Iversen, David Soskice
Book details
Table of contents

About This Book

A groundbreaking new historical analysis of how global capitalism and advanced democracies mutually support each other

It is a widespread view that democracy and the advanced nation-state are in crisis, weakened by globalization and undermined by global capitalism, in turn explaining rising inequality and mounting populism. This book, written by two of the world's leading political economists, argues this view is wrong: advanced democracies are resilient, and their enduring historical relationship with capitalism has been mutually beneficial.

For all the chaos and upheaval over the past century—major wars, economic crises, massive social change, and technological revolutions—Torben Iversen and David Soskice show how democratic states continuously reinvent their economies through massive public investment in research and education, by imposing competitive product markets and cooperation in the workplace, and by securing macroeconomic discipline as the preconditions for innovation and the promotion of the advanced sectors of the economy. Critically, this investment has generated vast numbers of well-paying jobs for the middle classes and their children, focusing the aims of aspirational families, and in turn providing electoral support for parties. Gains at the top have also been shared with the middle (though not the bottom) through a large welfare state.

Contrary to the prevailing wisdom on globalization, advanced capitalism is neither footloose nor unconstrained: it thrives under democracy precisely because it cannot subvert it. Populism, inequality, and poverty are indeed great scourges of our time, but these are failures of democracy and must be solved by democracy.

Read More

Information

Publisher
Princeton University Press
Year
2019
ISBN
9780691188874
Topic
Politics & International Relations
Subtopic
Democracy

Table of contents