This economic system supports a mainly capitalist market economy, with some limitations (i.e. regulations) created according to the will of the public (which is expressed through a democratic process).
The United States is notable in using Democratic Capitalism as its economic-political system. Both the Democratic and Republican Parties of the United States subscribe to this (little-"d" and "r") democratic-republican philosophy. The term is often used to contrast the United States' economic-political system, with its emphasis on individual liberties, with that of the more social democratic economies of other Western countries.
Most liberals and conservatives generally support some form of Democratic Capitalism in their economic practices.
One of the central areas of dispute revolves around the relationship between capital and labor. In this relationship, the supplier of capital usually holds greater power proportionate to the amount of risk. However, the validity of this argument is questionable because loss of capital (expressed as excess value) is not equivalent with loss of labor.
The loss or more correctly, the transfer of capital (actualized risk) produces a purely economic change while the loss of labor effects human life by reducing the ability for survival (in an economic system e.g. industrialized, non-agrarian).
See also
External links
- The Conceptual Foundations of Democratic Capitalism
- Michael Novak's Portrait of Democratic Capitalism
This article is licensed under the GNU Free Documentation License.
Last updated on Sunday July 20, 2008 at 08:10:59 PDT (GMT -0700)
View this article at Wikipedia.org - Edit this article at Wikipedia.org - Donate to the Wikimedia Foundation
This economic system supports a mainly capitalist market economy, with some limitations (i.e. regulations) created according to the will of the public (which is expressed through a democratic process).
The United States is notable in using Democratic Capitalism as its economic-political system. Both the Democratic and Republican Parties of the United States subscribe to this (little-"d" and "r") democratic-republican philosophy. The term is often used to contrast the United States' economic-political system, with its emphasis on individual liberties, with that of the more social democratic economies of other Western countries.
Most liberals and conservatives generally support some form of Democratic Capitalism in their economic practices.
One of the central areas of dispute revolves around the relationship between capital and labor. In this relationship, the supplier of capital usually holds greater power proportionate to the amount of risk. However, the validity of this argument is questionable because loss of capital (expressed as excess value) is not equivalent with loss of labor.
The loss or more correctly, the transfer of capital (actualized risk) produces a purely economic change while the loss of labor effects human life by reducing the ability for survival (in an economic system e.g. industrialized, non-agrarian).
See also
External links
- The Conceptual Foundations of Democratic Capitalism
- Michael Novak's Portrait of Democratic Capitalism
This article is licensed under the GNU Free Documentation License.
Last updated on Sunday July 20, 2008 at 08:10:59 PDT (GMT -0700)
View this article at Wikipedia.org - Edit this article at Wikipedia.org - Donate to the Wikimedia Foundation
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