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Capitalism and Democracy: Prosperity, Justice, and the Good Society Paperback – Download: Adobe Reader, March 1, 2021
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This book serves as an introduction to the ongoing political debate about the relationship of capitalism and democracy.
In recent years, the ideological battles between advocates of free markets and minimal government, on the one hand, and adherents of greater democratic equality and some form of the welfare state, on the other hand, have returned in full force. Anyone who wants to make sense of contemporary American politics and policy battles needs to have some understanding of the divergent beliefs and goals that animate this debate. In Capitalism and Democracy, Thomas A. Spragens, Jr., examines the opposing sides of the free market versus welfare state debate through the lenses of political economy, moral philosophy, and political theory. He asks: Do unchecked markets maximize prosperity, or do they at times produce wasteful and damaging outcomes? Are market distributions morally appropriate, or does fairness require some form of redistribution? Would a society of free markets and minimal government be the best kind of society possible, or would it have serious problems? After leading the reader through a series of thought experiments designed to compare and clarify the thought processes and beliefs held by supporters of each side, Spragens explains why there are no definitive answers to these questions. He concludes, however, that some answers are better than others, and he explains why his own judgement is that a vigorous free marketplace provides great benefits to a democratic society, both economically and politically, but that it also requires regulation and supplementation by collective action for a society to maximize prosperity, to mitigate some of the unfairness of the human condition, and to be faithful to important democratic purposes and ideals. This engaging and accessible book will interest students and scholars of political economy, democratic theory, and theories of social justice. It will also appeal to general readers who are seeking greater clarity and understanding of contemporary debates about government's role in the economy.
- Print length270 pages
- LanguageEnglish
- PublisherUniversity of Notre Dame Press
- Publication dateMarch 1, 2021
- Dimensions6 x 0.57 x 9 inches
- ISBN-100268200149
- ISBN-13978-0268200145
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Editorial Reviews
Review
“This brief but powerful book is a much-needed―and timely―Guide for the Perplexed Citizen, and it is as wise as it is witty. Capitalism and Democracy is a masterful synthesis of disparate sources, and a highly intelligent assessment and critique of arguments advanced by various economists, political theorists, and politicians. Spragens’s prose is pithy, clear, and a delight to read.” ―Terence Ball, co-author of Political Ideologies and the Democratic Ideal
“Capitalism and Democracy is a remarkably evenhanded book, and especially so in these highly contentious days. Spragens joins a sophisticated understanding of political theory to economic analysis and provides a fuller account of what is at stake in debates about the extent to which the market should be ‘free’ and the government should ‘interfere’ with it than one usually finds in writings on these matters. I read it practically straight through and found it almost as enjoyable as reading a good novel.” ―Richard Dagger, author of Playing Fair
"The free-market process is ultimately based on the reality of who we are as human beings. The free economy is not an ‘instrument’ but a ‘process’ which allows the ‘flourishing’ of the human person. . . . Spragens’s study is a most worthwhile contribution in this ongoing discussion." ―VoegelinView
About the Author
Thomas A. Spragens, Jr., is professor emeritus of political science at Duke University. He is the author of numerous books, including the prizewinning Civic Liberalism: Reflections on Our Democratic Ideals.
Excerpt. © Reprinted by permission. All rights reserved.
In the first place there is in any society - and certainly in those shaped by a liberal culture and institutions - a perennial anti-government constituency. Freedom is a great good. Constraints are onerous. Governments perform their functions through the enactment and implementation of laws. Laws, even those providing important benefits, always impose constraints in the form of prohibitions or obligations upon some or all those under the state’s jurisdiction. So at some level of our being, we are all anarchists. Laissez-faire. Leave us alone indeed. We want drunks off the roads, but we chafe at highway checkpoints. We want to reach our destinations as quickly as possible, so we dislike stop signs and are loath to find highway patrol cars along our path. We may want government services, but no one loves the IRS. People who live near public land are frustrated if they are not permitted to hunt there or cut timber there or graze their livestock there. So, even if we know better, we all have a piece of us that sympathizes with the ne’er do well who had suffered numerous unpleasant encounters with the law and who came upon the American revolutionary leader, and later to be President, John Adams on the road one evening in the fall of 1775. “Oh, Mr. Adams,” he reportedly exclaimed. “What great things have you and your colleagues done for us! We can never be grateful enough to you. There are no courts of justice now in this province, and I hope there will never be another!” Adams himself, conservative jurist that he was, was dismayed by this encounter.
But the profound natural desire to live without constraints has deep roots in the country whose independence he helped to achieve. Indeed, I think that one thing Alexis de Tocqueville got wrong in his account of American political mores and values was his claim that Americans - as citizens of the most democratic society of his day - had as their ruling political passion a love of equality, something they valued above all other goods including liberty. If anything, in my view, Tocqueville got it backwards. Yes, there is in American political culture a strong and enduring animus against political hierarchy and aristocracy. But the principal source of that animus is not so much some kind of passion for equality per se. Instead it embodies the recognition, born of painful experience and not logic alone, that the corrupt fruit of entrenched political inequality is domination by those on top. Dominion is control, and to be subject to the control of others is to be unfree. As Jefferson’s memorable analogy captures this dynamic, those at the top of a political hierarchy often act as if they had been “born booted and spurred, ready to ride others by the grace of God.” The ultimate source of the democratic and American animus against entrenched social and political inequality, then, is that such inequality enables the abridgment of liberty. Patrick Henry’s famous oration, after all, was “give me liberty or give me death”; and New Hampshire’s state motto is “live free or die”. They didn’t say “give me equality or give me death” or “live equal or die.”
Product details
- Publisher : University of Notre Dame Press (March 1, 2021)
- Language : English
- Paperback : 270 pages
- ISBN-10 : 0268200149
- ISBN-13 : 978-0268200145
- Item Weight : 12.8 ounces
- Dimensions : 6 x 0.57 x 9 inches
- Best Sellers Rank: #3,341,030 in Books (See Top 100 in Books)
- #1,314 in Free Enterprise & Capitalism
- #3,280 in Political Economy
- #4,357 in Democracy (Books)
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