Democracy and Prosperity

Reinventing Capitalism through a Turbulent Century

Nonfiction, Social & Cultural Studies, Political Science, Government, Democracy, Politics, Economic Conditions
Cover of the book Democracy and Prosperity by Torben Iversen, David Soskice, Princeton University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Torben Iversen, David Soskice ISBN: 9780691188874
Publisher: Princeton University Press Publication: February 5, 2019
Imprint: Princeton University Press Language: English
Author: Torben Iversen, David Soskice
ISBN: 9780691188874
Publisher: Princeton University Press
Publication: February 5, 2019
Imprint: Princeton University Press
Language: English

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.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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.

More books from Princeton University Press

Cover of the book Closing the Shop by Torben Iversen, David Soskice
Cover of the book The Birth of Politics by Torben Iversen, David Soskice
Cover of the book Taming the Beloved Beast by Torben Iversen, David Soskice
Cover of the book The "Dead Sea Scrolls" by Torben Iversen, David Soskice
Cover of the book How to Grow Old by Torben Iversen, David Soskice
Cover of the book Oxygen by Torben Iversen, David Soskice
Cover of the book The Contentious Public Sphere by Torben Iversen, David Soskice
Cover of the book Calculus of Variations and Optimal Control Theory by Torben Iversen, David Soskice
Cover of the book Justice in Lüritz by Torben Iversen, David Soskice
Cover of the book What's Divine about Divine Law? by Torben Iversen, David Soskice
Cover of the book Finding Equilibrium by Torben Iversen, David Soskice
Cover of the book Kierkegaard's Writings, II: The Concept of Irony, with Continual Reference to Socrates/Notes of Schelling's Berlin Lectures by Torben Iversen, David Soskice
Cover of the book Essays and Reviews by Torben Iversen, David Soskice
Cover of the book Prudes, Perverts, and Tyrants by Torben Iversen, David Soskice
Cover of the book The Papers of Thomas Jefferson, Retirement Series, Volume 7 by Torben Iversen, David Soskice
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy