Fading Light of Democratic Capitalism - How Pervasive Cronyism Restricted Suffrage Are Destroying Democratic

This Element discusses how pervasive cronyism and restricted suffrage are destroying democratic capitalism as a national ideal and offers suggestions on how the promise of US-style democratic capitalism can be restored. To this end, the author draws on the work of political philosopher and democracy advocate Danielle Allen in calling attention to the principle of political equality, as well as the two related sub-principles of reciprocity and power sharing, as essential guides. Based on these ideas, a series of practical steps is suggested to make economic and political markets more democratic by curbing cronyism and expanding citizens' access to the political processes governing the nation. The author also discusses how private corporations can become more 'democracy supporting.' The Element ends with some reflections on the moral culture required to restore and sustain public trust and confidence in democratic capitalism as a system of economic and political governance.

List of contents

1. Introduction; 2. The idea of democratic capitalism; 3. The fading light of democratic capitalism; 4. Restoring the promise of democratic capitalism; 5. Can firms be more democracy-supporting?; 6. A moral culture for democratic capitalism; Appendix: the problematic doctrine of wealth maximization; Bibliography.

Product details

• Authors: Malcolm S. Salter, Malcolm S. (Harvard Business School) Salter, Salter Malcolm S.
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Paperback / Softback
• Released: 28.11.2024
• EAN: 9781009587648
• ISBN: 978-1-0-0958764-8
• No. of pages: 96
• Series: Elements in Reinventing Capitalism
• Subjects: Social sciences, law, business > Business > Management; Capitalism, BUSINESS & ECONOMICS / Management, Political corruption, Political structures: democracy, Social discrimination & inequality, Economic systems & structures, Elections & referenda, Corruption in politics, government and society, Elections and referenda / suffrage, Social discrimination and social justice, Management; Governance