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Essay / Are Democracy and Capitalism Compatible - 2012
In contemporary times, the rise of capitalism as a dominant economic trend and its voracious demand to accumulate sources of new markets have led to the idea to merge political and economic power into one, which is democratic capitalism or otherwise illustrated as "a system in which markets distribute income based on efficiency while governments redistribute income based on political demand." » (Iversen, 2006). The political ideology of democracy and the economic ideology of capitalism and how they might influence each other have come under scrutiny recently, whereas in the past, at the beginning of the 19th century, it was considered inappropriate and unlikely. aims to demonstrate to what extent democracy and capitalism are compatible, by examining the different areas of conflict of the two ideologies, how has capitalism affected the democratic system in the United States and how has global capitalism- it actually has an impact on democracies in developing countries. One of the scholars who did not support the idea of a merger between capitalism and democracy was the famous Karl Marx, who believed that either it would not happen or if it did, it would have quickly evaporated. In his work, he presents his opinion on capitalist democracy as "only the political form of the revolution of bourgeois society and not its conservative form of life." On the political scene, there seem to be many moments of clashes between the economic ideology of capitalism and the political ideology of democracy, and this is the opinion expressed by various scholars, including Karl Marx. According to the...... middle of the article ......t Democracy in a neoliberal order: doctrines and reality, Z Magazine onlineIversen, T., (2006), Manual of political science, 1st ed. , SpiPublisher Services. Pp 614-615Koelbe, T. and Lipuma, E. (2008), “Democratizing democracy: a postcolonial critique of conventional approaches to “measuring democracy”, Democratization, Vol.15, No.1, Pp. 16- 18Przeworski, A., 2004. Capitalism, development and democracy. Brazilian Journal of Political Economy, Vol. 24, no. 4 (96), p. 489-497Sherman, H., 1995. Democracy and capitalism. Reinventing Marxism, JohnsHopkins University Press, pp. 177-192 Street, P. Capitalism and Democracy “Don't Mix Very Well”: Reflections on Globalization, February 2000. Z Online Magazine: http://www.iefd.org/articles/capitalism_and_democracy.php UNDP (2004) , Arab Human Development Report 2004: Towards freedom in the Arab world. PP. 12