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Democracy and Prosperity: Reinventing Capitalism through a Turbulent Century by [Iversen, Torben, Soskice, David]

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Democracy and Prosperity: Reinventing Capitalism through a Turbulent Century Kindle Edition

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Length: 360 pages Word Wise: Enabled Enhanced Typesetting: Enabled
Page Flip: Enabled Language: English

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Product description


GÇ£In this magisterial account, Iversen and Soskice demonstrate that contemporary advanced capitalism is based on the presence of skilled and educated workers and geographically rooted ecologies of organizations, people, and institutions. They show us why populism is currently challenging advanced capitalist democracies, but also why we have many reasons to be optimistic about the future.n++?'Michael Storper, author of Keys to the City: How Economics, Institutions, Social Interaction, and Politics Shape Development

Product Description

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.

Product details

  • Format: Kindle Edition
  • File Size: 5038 KB
  • Print Length: 360 pages
  • Publisher: Princeton University Press (5 February 2019)
  • Sold by: Amazon Australia Services, Inc.
  • Language: English
  • ASIN: B07K65DXXG
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Enhanced Typesetting: Enabled
  • Customer Reviews: Be the first to review this item
  • Amazon Bestsellers Rank: #415,496 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Most helpful customer reviews on 4.5 out of 5 stars 2 reviews
A. Menon
4.0 out of 5 stars Quite an interesting take on how democracy enabled various growth models
18 August 2019 - Published on
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3 people found this helpful
Vasyl Kulgavyi
5.0 out of 5 stars Positive point of view on highly controversial topic
22 August 2019 - Published on
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