CAN DEMOCRACY AND CAPITALISM BE RECONCILED
Price: 1150.00 INR
ISBN:
9780197854983
Publication date:
21/01/2026
Paperback
608 pages
Price: 1150.00 INR
ISBN:
9780197854983
Publication date:
21/01/2026
Paperback
608 pages
Sidney M. Milkis & Scott C. Miller
- Offers multidisciplinary perspectives on democracy, capitalism, and issues at the intersection of the two
- Comprises essays from authors in a wide variety of fields, exploring democracy and capitalism in broad concepts and as they relate to specific topics
- Incorporates introductory synthetic essays to provide concise overviews of the chapters in each section and provide shortcuts for readers or educators seeking chapters/sections focused on specific topics
- Pairs with a related webpage from The Project on Democracy and Capitalism that provides a preview of the volume's content and serves as additional material to accompany the use of the essays: https://www.democracyandcapitalism.com/conference2023
Rights: World Rights
Sidney M. Milkis & Scott C. Miller
Description
In Can Capitalism and Democracy Be Reconciled?, Sidney M. Milkis and Scott C. Miller have gathered a truly eminent cast of contributors to provide a multidisciplinary examination at the intersection of capitalist economies and democratic political systems across time and space. Featuring twenty-four essays from scholars across nine different academic fields, the volume interrogates the ideas, history, and policy behind these two pillars of liberal society.
The volume begins with an introduction that explores the vibrant historical debate over whether democracy and capitalism can and should coexist in America. The contributors, further examining the United States and comparable countries, conclude that democracy and capitalism can be reconciled; at the same time, many recognize that the relationship is fragile and urge systemic changes that might sustain democratic capitalism in the future. The core thematic sections begin with an examination of the foundational yet fluid meaning of democracy and capitalism and consider the inherent tensions in reconciling them. The remaining sections address the underlying causes of, and solutions to, five modern "pathologies" of democratic capitalism: 1) Environmental Degradation; 2) Governance and Consolidation of Private Power; 3) Inequality and Opportunity; 4) Polarization; and 5) Frictions at the Intersection of Popular Will and Sound Policy. By examining these pathologies from many disciplinary and temporal angles, this volume provides a rounded understanding of why these pathologies arose, how they have influenced society, and how free people can reform their political economy to bring it more in line with their values.
About the Author
Edited by Sidney M. Milkis, White Burkett Miller Professor of Politics, University of Virginia, and Edited by Scott C. Miller, Assistant Professor of Business Administration, Darden School of Business, and Director of the Project on Democracy and Capitalism, University of Virginia
Sidney M. Milkis is the White Burkett Miller Professor in the Department of Politics and a Senior Fellow at the Miller Center of Public Affairs, University of Virginia. He was awarded the Cavaliers' Distinguished Teaching Professorship for 2018-2020, the highest teaching award at the University of Virginia, which recognizes an eminent scholar for outstanding undergraduate teaching. In 2016-2017, he was named the John G. Winant Visiting Professor of American Government at Oxford University. His research focuses on the American presidency, political parties and elections, social movements, and American political development. He has published fifteen books, and his articles have appeared in Perspectives on Politics, Political Science Quarterly, Studies in American Political Development, PS: Political Science and Politics, the Journal of Policy History, Antitrust Law Journal, Presidential Studies Quarterly, Journal of Supreme Court History, American Political
Thought, Social Science Quarterly, and several highly regarded edited volumes. Scott C. Miller is Assistant Professor of Business Administration at the Darden School of Business and Director of the Project on Democracy and Capitalism at the University of Virginia. From 2019 to 2021, Miller held a postdoctoral fellowship in economic and business history at the Yale School of Management's International Center for Finance. As an economic historian, Miller examines the development of modern economic systems, particularly during periods of instability and volatility. He is the author or co-author of numerous scholarly papers on economic history, financial crises, and the interplay between societal and economic change. He also has written or co-written twenty case studies on financial crises and economic development.
Contributors:
Danielle Allen is the James Bryant Conant University Professor, Harvard University, Cambridge, MA, US.
Jennifer Bair is Professor of Sociology, University of Virginia, Charlottesville, VA, US.
Dan Bogart is Professor, UC Irvine, CA, US.
Carles Boix is Robert Garrett Professor of Politics and Public Affairs, Princeton University, Princeton, NJ, US.
Trevor E. Brown is Ph.D. Candidate, Cornell University, Ithaca, NY, US.
Robert F. Bruner is University Professor Emeritus, Distinguished Professor Emeritus, and Dean Emeritus, University of Virginia, Charlottesville, VA, US.
Kara Dimitruk is Assistant Professor, Economics Department, Hamilton College, Clinton, NY, US
Kenneth G. Elzinga is Robert C. Taylor Professor of Economics, University of Virginia, Charlottesville, VA, US.
William A. Galston is Senior Fellow, The Brookings Institution, Washington, DC, US.
Vincent Geloso is Assistant Professor, George Mason University, Fairfax, VA, US.
Jacob S. Hacker is Stanley Resor Professor of Political Science, Department of Political Science, Yale University, New Haven, CT, US.
Shi-Ling Hsu is D'Alemberte Professor, Florida State University College of Law, Tallahassee, FL, US.
Didi Kuo is Center Fellow, Freeman-Spogli Institute for International Studies, Stanford University, CA, US.
Naomi Lamoreaux is Senior Research Scholar, University of Michigan, Ann Arbor, MI, US and Stanley B. Resor Professor Emeritus of Economics and Professor Emeritus of History, Yale University, New Haven, CT, US.
Michael James Lenox is University Professor, Darden School of Business, University of Virginia, Charlottesville, VA, US.
Robert C. Lieberman is Krieger-Eisenhower Professor of Political Science, Johns Hopkins University, Baltimore, MD, US.
Christine Mahoney is Professor of Public Policy and Politics, Batten School of Leadership and Public Policy, University of Virginia, Charlottesville, Virginia, US.
Suzanne Mettler is John L. Senior Professor of American Institutions, Cornell University, Ithaca, NY, US.
Sidney M Milkis is White Burkett Miller Professor of Politics, University of Virginia, Charlottesville, VA, US.
Scott C. Miller is Assistant Professor, Darden School of Business and Director, Project on Democracy & Capitalism, Miller Center of Public Affairs, University of Virginia Charlottesville, VA, US.
Joel Mokyr is Robert H. Strotz Professor of Arts and Sciences and Professor of Economics and History, Northwestern University, Evanston, IL, US.
James A. Morone is Professor Emeritus of Political Science, Brown University, Providence, Rhode Island, US.
Laura Phillips-Sawyer is Jane W. Wilson Associate Professor of Business Law, University of Georgia, School of Law, Athens, GA, US.
Paul Pierson is Professor of Political Science, University of California-Berkeley, CA, US.
Barry G. Rabe is Professor of Public Policy, Gerald Ford School of Public Policy, University of Michigan, Ann Arbor, MI, US.
Deondra Rose is Kevin D. Gorter Associate Professor of Public Policy and Associate Professor of Political Science and History, Sanford School of Public Policy, Duke University, Durham, NC, US.
Isabel Sawhill is Senior Fellow, Brookings Institution, Washington, DC, US.
Alex Tabarrok is Bartley J. Madden Chair in Economics at the Mercatus Center, George Mason University, Fairfax, VA, US.
Hannah Knox Tucker is Assistant Professor of History, Copenhagen Business School, Copenhagen, Denmark.
R. Daniel Wadhwani is Professor of Entrepreneurship and History, University of Southern California, Sacramento, CA, US
John Joseph Wallis is Research Associate, National Bureau of Economic Research, Cambridge, MA, US, Professor of Economics, University of Maryland, College Park, MD, US and Research Fellow, CEPR, Paris, France
Sidney M. Milkis & Scott C. Miller
Table of contents
Introduction, Sidney M. Milkis and Scott C. Miller
SECTION I The Nature of Democratic Capitalism
Capitalism and Democracy: Will They Survive?, Isabel Sawhill
1:Two Peas in a Pod: Democracy and Capitalism, Vincent Geloso and Alex Tabarrok
2:Political Parties and Democratic Capitalism, Didi Kuo
3:The Varying Fortunes of Democratic Capitalism, Carles Boix
SECTION II Environmental Degradation
Democratic Capitalism, Industrial Policy, and the Challenge of Climate Change, Michael James Lenox
4:Can Democratic Capitalism Protect the Climate?, Barry G. Rabe
5:Recruiting Capitalism for Environmental Protection, Shi-Ling Hsu
SECTION III Governance and Consolidation of Private Power
Can Democracy and Capitalism be Reconciled?, Kenneth G. Elzinga
6:The Problem of Market Power in Postwar America: Antitrust Law, Regulatory Discourse, and Changing Ideas of Market Power, Laura Phillips-Sawyer
7:Democracy, Capitalism, and Equality: The Importance of Impersonal Rules, Naomi Lamoreaux and John Joseph Wallis
SECTION IV Inequality and Opportunity
Can Capitalism Save Itself?: Capitalism's Looming Threats to Democracy and Practical Strategies to Step Back from the Brink, Christine Mahoney
8:Diversity, Pluralism and Tolerance: The Roots of Economic Prosperity?, Joel Mokyr
9:For-profit Colleges and the Tension between Capitalism and American Democracy, Deondra Rose
10:The Fourth Subsidiary Ideal: Empowering Economies, Danielle Allen
SECTION V Polarization
In Polanyi's Shadow: Race, Capitalism, and Democracy in Our Time, Robert C. Lieberman
11:From Leader to Laggard? American Democratic Capitalism in the Knowledge Economy, Jacob S. Hacker and Paul Pierson
12:How the Transformation of the American Political Economy Spurred a Rural-Urban Political Divide, Trevor E. Brown and Suzanne Mettler
13:Capitalism, Democracy, and the Rise of the New Right: A Shifting Landscape, William A. Galston
SECTION VI Frictions at the Intersection of Democracy and Capitalism: Popular will And "Sound Policy"
Institutions as Interstices: Frictions at the Intersection of Democracy and Capitalism, Jennifer Bair
14:Representative Government and Mercantilism in England, Dan Bogart and Kara Dimitruk
15:Freedom's Frictions: Entrepreneurial Imaginaries in the Making of American Capitalism and Democracy, Hannah Knox Tucker and R. Daniel Wadhwani
16:Financial Crises and the Coexistence of Democracy and Capitalism: The Case of the Panic of 1907, Robert F. Bruner
Conclusion: Can Democracy and Capitalism be Reconciled? Ten Conclusions in the Search for a Just Society, James A. Morone
Sidney M. Milkis & Scott C. Miller
Description
In Can Capitalism and Democracy Be Reconciled?, Sidney M. Milkis and Scott C. Miller have gathered a truly eminent cast of contributors to provide a multidisciplinary examination at the intersection of capitalist economies and democratic political systems across time and space. Featuring twenty-four essays from scholars across nine different academic fields, the volume interrogates the ideas, history, and policy behind these two pillars of liberal society.
The volume begins with an introduction that explores the vibrant historical debate over whether democracy and capitalism can and should coexist in America. The contributors, further examining the United States and comparable countries, conclude that democracy and capitalism can be reconciled; at the same time, many recognize that the relationship is fragile and urge systemic changes that might sustain democratic capitalism in the future. The core thematic sections begin with an examination of the foundational yet fluid meaning of democracy and capitalism and consider the inherent tensions in reconciling them. The remaining sections address the underlying causes of, and solutions to, five modern "pathologies" of democratic capitalism: 1) Environmental Degradation; 2) Governance and Consolidation of Private Power; 3) Inequality and Opportunity; 4) Polarization; and 5) Frictions at the Intersection of Popular Will and Sound Policy. By examining these pathologies from many disciplinary and temporal angles, this volume provides a rounded understanding of why these pathologies arose, how they have influenced society, and how free people can reform their political economy to bring it more in line with their values.
About the Author
Edited by Sidney M. Milkis, White Burkett Miller Professor of Politics, University of Virginia, and Edited by Scott C. Miller, Assistant Professor of Business Administration, Darden School of Business, and Director of the Project on Democracy and Capitalism, University of Virginia
Sidney M. Milkis is the White Burkett Miller Professor in the Department of Politics and a Senior Fellow at the Miller Center of Public Affairs, University of Virginia. He was awarded the Cavaliers' Distinguished Teaching Professorship for 2018-2020, the highest teaching award at the University of Virginia, which recognizes an eminent scholar for outstanding undergraduate teaching. In 2016-2017, he was named the John G. Winant Visiting Professor of American Government at Oxford University. His research focuses on the American presidency, political parties and elections, social movements, and American political development. He has published fifteen books, and his articles have appeared in Perspectives on Politics, Political Science Quarterly, Studies in American Political Development, PS: Political Science and Politics, the Journal of Policy History, Antitrust Law Journal, Presidential Studies Quarterly, Journal of Supreme Court History, American Political
Thought, Social Science Quarterly, and several highly regarded edited volumes. Scott C. Miller is Assistant Professor of Business Administration at the Darden School of Business and Director of the Project on Democracy and Capitalism at the University of Virginia. From 2019 to 2021, Miller held a postdoctoral fellowship in economic and business history at the Yale School of Management's International Center for Finance. As an economic historian, Miller examines the development of modern economic systems, particularly during periods of instability and volatility. He is the author or co-author of numerous scholarly papers on economic history, financial crises, and the interplay between societal and economic change. He also has written or co-written twenty case studies on financial crises and economic development.
Contributors:
Danielle Allen is the James Bryant Conant University Professor, Harvard University, Cambridge, MA, US.
Jennifer Bair is Professor of Sociology, University of Virginia, Charlottesville, VA, US.
Dan Bogart is Professor, UC Irvine, CA, US.
Carles Boix is Robert Garrett Professor of Politics and Public Affairs, Princeton University, Princeton, NJ, US.
Trevor E. Brown is Ph.D. Candidate, Cornell University, Ithaca, NY, US.
Robert F. Bruner is University Professor Emeritus, Distinguished Professor Emeritus, and Dean Emeritus, University of Virginia, Charlottesville, VA, US.
Kara Dimitruk is Assistant Professor, Economics Department, Hamilton College, Clinton, NY, US
Kenneth G. Elzinga is Robert C. Taylor Professor of Economics, University of Virginia, Charlottesville, VA, US.
William A. Galston is Senior Fellow, The Brookings Institution, Washington, DC, US.
Vincent Geloso is Assistant Professor, George Mason University, Fairfax, VA, US.
Jacob S. Hacker is Stanley Resor Professor of Political Science, Department of Political Science, Yale University, New Haven, CT, US.
Shi-Ling Hsu is D'Alemberte Professor, Florida State University College of Law, Tallahassee, FL, US.
Didi Kuo is Center Fellow, Freeman-Spogli Institute for International Studies, Stanford University, CA, US.
Naomi Lamoreaux is Senior Research Scholar, University of Michigan, Ann Arbor, MI, US and Stanley B. Resor Professor Emeritus of Economics and Professor Emeritus of History, Yale University, New Haven, CT, US.
Michael James Lenox is University Professor, Darden School of Business, University of Virginia, Charlottesville, VA, US.
Robert C. Lieberman is Krieger-Eisenhower Professor of Political Science, Johns Hopkins University, Baltimore, MD, US.
Christine Mahoney is Professor of Public Policy and Politics, Batten School of Leadership and Public Policy, University of Virginia, Charlottesville, Virginia, US.
Suzanne Mettler is John L. Senior Professor of American Institutions, Cornell University, Ithaca, NY, US.
Sidney M Milkis is White Burkett Miller Professor of Politics, University of Virginia, Charlottesville, VA, US.
Scott C. Miller is Assistant Professor, Darden School of Business and Director, Project on Democracy & Capitalism, Miller Center of Public Affairs, University of Virginia Charlottesville, VA, US.
Joel Mokyr is Robert H. Strotz Professor of Arts and Sciences and Professor of Economics and History, Northwestern University, Evanston, IL, US.
James A. Morone is Professor Emeritus of Political Science, Brown University, Providence, Rhode Island, US.
Laura Phillips-Sawyer is Jane W. Wilson Associate Professor of Business Law, University of Georgia, School of Law, Athens, GA, US.
Paul Pierson is Professor of Political Science, University of California-Berkeley, CA, US.
Barry G. Rabe is Professor of Public Policy, Gerald Ford School of Public Policy, University of Michigan, Ann Arbor, MI, US.
Deondra Rose is Kevin D. Gorter Associate Professor of Public Policy and Associate Professor of Political Science and History, Sanford School of Public Policy, Duke University, Durham, NC, US.
Isabel Sawhill is Senior Fellow, Brookings Institution, Washington, DC, US.
Alex Tabarrok is Bartley J. Madden Chair in Economics at the Mercatus Center, George Mason University, Fairfax, VA, US.
Hannah Knox Tucker is Assistant Professor of History, Copenhagen Business School, Copenhagen, Denmark.
R. Daniel Wadhwani is Professor of Entrepreneurship and History, University of Southern California, Sacramento, CA, US
John Joseph Wallis is Research Associate, National Bureau of Economic Research, Cambridge, MA, US, Professor of Economics, University of Maryland, College Park, MD, US and Research Fellow, CEPR, Paris, France
Table of contents
Introduction, Sidney M. Milkis and Scott C. Miller
SECTION I The Nature of Democratic Capitalism
Capitalism and Democracy: Will They Survive?, Isabel Sawhill
1:Two Peas in a Pod: Democracy and Capitalism, Vincent Geloso and Alex Tabarrok
2:Political Parties and Democratic Capitalism, Didi Kuo
3:The Varying Fortunes of Democratic Capitalism, Carles Boix
SECTION II Environmental Degradation
Democratic Capitalism, Industrial Policy, and the Challenge of Climate Change, Michael James Lenox
4:Can Democratic Capitalism Protect the Climate?, Barry G. Rabe
5:Recruiting Capitalism for Environmental Protection, Shi-Ling Hsu
SECTION III Governance and Consolidation of Private Power
Can Democracy and Capitalism be Reconciled?, Kenneth G. Elzinga
6:The Problem of Market Power in Postwar America: Antitrust Law, Regulatory Discourse, and Changing Ideas of Market Power, Laura Phillips-Sawyer
7:Democracy, Capitalism, and Equality: The Importance of Impersonal Rules, Naomi Lamoreaux and John Joseph Wallis
SECTION IV Inequality and Opportunity
Can Capitalism Save Itself?: Capitalism's Looming Threats to Democracy and Practical Strategies to Step Back from the Brink, Christine Mahoney
8:Diversity, Pluralism and Tolerance: The Roots of Economic Prosperity?, Joel Mokyr
9:For-profit Colleges and the Tension between Capitalism and American Democracy, Deondra Rose
10:The Fourth Subsidiary Ideal: Empowering Economies, Danielle Allen
SECTION V Polarization
In Polanyi's Shadow: Race, Capitalism, and Democracy in Our Time, Robert C. Lieberman
11:From Leader to Laggard? American Democratic Capitalism in the Knowledge Economy, Jacob S. Hacker and Paul Pierson
12:How the Transformation of the American Political Economy Spurred a Rural-Urban Political Divide, Trevor E. Brown and Suzanne Mettler
13:Capitalism, Democracy, and the Rise of the New Right: A Shifting Landscape, William A. Galston
SECTION VI Frictions at the Intersection of Democracy and Capitalism: Popular will And "Sound Policy"
Institutions as Interstices: Frictions at the Intersection of Democracy and Capitalism, Jennifer Bair
14:Representative Government and Mercantilism in England, Dan Bogart and Kara Dimitruk
15:Freedom's Frictions: Entrepreneurial Imaginaries in the Making of American Capitalism and Democracy, Hannah Knox Tucker and R. Daniel Wadhwani
16:Financial Crises and the Coexistence of Democracy and Capitalism: The Case of the Panic of 1907, Robert F. Bruner
Conclusion: Can Democracy and Capitalism be Reconciled? Ten Conclusions in the Search for a Just Society, James A. Morone
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