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Democratic capitalism, also known as capitalist democracy or capitalistic democracy, is a political, economic, and social system and ideology based on a tripartite arrangement of a market-based economy based predominantly on a democratic polity, economic incentives through free markets, and a liberal moral-cultural system which encourages pluralism.[1][2]

This economic system supports a capitalist free market economy subject to control by a political system which is in some sense democratic, and supported by the majority.

The United States and Canada are notable in using democratic capitalism as their political-economic system. In the United States, both the Democratic and Republican Parties subscribe to this (little-"d" and "r") democratic-republican philosophy. In Canada, both the Liberal and Conservative Parties subscribe to a belief in the free market, free enterprise, private property, and democratic capitalism. The term is often used to contrast the United States' and Canada's political-economic system, with its emphasis on individual liberties, with that of the more democratic socialist or social democratic economies of other Western countries. Most liberals and conservatives generally support some form of democratic capitalism in their economic practices[citation needed].

Contents

See also

Notes

  1. ^ Novak, Michael. The Spirit of Democratic Capitalism. p. 31. 
  2. ^ Benne, Robert. The Ethic of Democratic Capitalism. p. 97. 

References

  • Novak, Michael (1993), The Catholic Ethic and the Spirit of Capitalism, New York: The Free Press 
  • Novak, Michael (1982), The Spirit of Democratic Capitalism, New York: Simon and Schuster 
  • Benne, Robert (1981), The Ethic of Democratic Capitalism: A Moral Reassessment, Philadelphia: Fortress Press 
  • J. Michael Miller, ed. (1996), The Encyclicals of John Paul II, Huntington: Our Sunday Visitor 

External links

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Democratic capitalism, also known as capitalist democracy or capitalistic democracy, is a political, economic, and social system and ideology based on a tripartite arrangement of a market-based economy based predominantly on a democratic polity, economic incentives through free markets, and a liberal moral-cultural system which encourages pluralism.[1][2]

This economic system supports a capitalist free market economy subject to control by a democratic political system that is supported by the majority. It stands in contrast to authoritarian capitalism by limiting the influence of special interest groups, including corporate lobbyists, on politics.

The United States is often seen as having democratic capitalism as its political-economic system although some argue it has become more authoritarian in recent decades[3]. In the United States, both the Democratic and Republican Parties subscribe to this (little-"d" and "r") democratic-republican philosophy. Most liberals and conservatives generally support some form of democratic capitalism in their economic practices[citation needed].

Contents

See also

Notes

  1. ^ Novak, Michael, [Expression error: Unexpected < operator The Spirit of Democratic Capitalism], p. 31 
  2. ^ Benne, Robert, [Expression error: Unexpected < operator The Ethic of Democratic Capitalism], p. 97 
  3. ^ Robert Reich: Supercapitalism

References

  • Novak, Michael (1993), [Expression error: Unexpected < operator The Catholic Ethic and the Spirit of Capitalism], New York: The Free Press 
  • Novak, Michael (1982), [Expression error: Unexpected < operator The Spirit of Democratic Capitalism], New York: Simon and Schuster 
  • Benne, Robert (1981), [Expression error: Unexpected < operator The Ethic of Democratic Capitalism: A Moral Reassessment], Philadelphia: Fortress Press 
  • J. Michael Miller, ed. (1996), [Expression error: Unexpected < operator The Encyclicals of John Paul II], Huntington: Our Sunday Visitor 

External links


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