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Yes, contemporary capitalism can be compatible with liberal democracy
Article

Yes, contemporary capitalism can be compatible with liberal democracy

William A. Galston
Brookings Institution, 2019
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Editorial Rating

8

Qualities

  • Analytical
  • Overview
  • Background

Recommendation

For many Americans, the decades following World War II were golden years: Jobs were plentiful, growth was steady and people trusted government. But with the rise of the information age and globalization, jobs disappeared, the divisions between the educated and the working class sharpened, and inequalities rose. Governance expert William A. Galston dissects this evolution and urges strong public policies to help capitalist markets protect liberal democracy. This article is crucial reading for anyone concerned about the future of democracy, in the United States or anywhere else.

Take-Aways

  • The dynamic between liberal democracy and capitalism has mutated over time.
  • The information economy and globalization disrupted the “post-war order.”
  • Public policy must enable capitalism to uphold liberal democracy.

About the Author

William A. Galston is a senior fellow at the Brookings Institution.

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