nep-ger New Economics Papers
on German Papers
Issue of 2015‒03‒27
one paper chosen by
Roberto Cruccolini
Ludwig-Maximilians Universität München

  1. Das zukünftige Verhältnis von Kapitalismus und Demokratie aus ökonomischer Sicht By Gebhard Kirchgässner

  1. By: Gebhard Kirchgässner
    Abstract: Whether democracy or capitalism should have normative priority depends on the philosophi- cal point of view but also how both are defined. The more rele vant perspective is, however, the positive one. Formally, politics dominate, bu t the economy often dominates de facto be- cause political decisions against interests of powerful economic players might cause high so- cietal costs. Since the downfall of the Iron Wall capitalism spread out much more than democ- racy. Future development might strongly depend on the development of the new authoritarian market economies: Can high growth continue wh ile political rights are largely suppressed, or do they have to concede more and more to democratic rights in order to ensure further eco- nomic growth? One would like to see the latter one, but this is by no means sure.
    Keywords: Capitalism; Democracy; Economic Development; Market Economy
    JEL: H11 O10
    Date: 2015–03

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