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eBook
Capitalism and Democracy
2021
Overview
This book serves as an introduction to the ongoing
political debate about the relationship of capitalism and
democracy. In recent years, the ideological battles
between advocates of free markets and minimal government, on the
one hand, and adherents of greater democratic equality and some
form of the welfare state, on the other hand, have returned in full
force. Anyone who wants to make sense of contemporary American
politics and policy battles needs to have some understanding of the
divergent beliefs and goals that animate this debate. In
Capitalism and Democracy , Thomas A. Spragens, Jr.,
examines the opposing sides of the free market versus welfare state
debate through the lenses of political economy, moral philosophy,
and political theory. He asks: Do unchecked markets maximize
prosperity, or do they at times produce wasteful and damaging
outcomes? Are market distributions morally appropriate, or does
fairness require some form of redistribution? Would a society of
free markets and minimal government be the best kind of society
possible, or would it have serious problems? After leading the
reader through a series of thought experiments designed to compare
and clarify the thought processes and beliefs held by supporters of
each side, Spragens explains why there are no definitive answers to
these questions. He concludes, however, that some answers are
better than others, and he explains why his own judgement is that a
vigorous free marketplace provides great benefits to a democratic
society, both economically and politically, but that it also
requires regulation and supplementation by collective action for a
society to maximize prosperity, to mitigate some of the unfairness
of the human condition, and to be faithful to important democratic
purposes and ideals. This engaging and accessible book will
interest students and scholars of political economy, democratic
theory, and theories of social justice. It will also appeal to
general readers who are seeking greater clarity and understanding
of contemporary debates about government's role in the economy.
Publisher
University of Notre Dame Press,University of Notre Dame
Subject
ISBN
9780268200145, 0268200149, 9780268200152, 0268200157, 9780268200121, 9780268200138, 0268200130, 0268200122
