Democracy and Prosperity

Reinventing Capitalism through a Turbulent Century

Torben Iversen, David Soskice

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English

Princeton University Press
15 May 2021

Globalization; Political structures: democracy; Political economy

A groundbreaking historical analysis of how global capitalism and advanced democracies mutually support each otherIt is a widespread view that democracy and the advanced nation-state are in crisis, weakened by globalization and undermined by global capitalism. Torben Iversen and David Soskice argue that this view is wrong. In fact, advanced democracies are resilient and their enduring relationship with capitalism has been mutually beneficial. Iversen and Soskice show how democratic states continuously reinvent their economies through public investment in research and education, by imposing competitive product markets and cooperation in the workplace, and by securing macroeconomic discipline as the preconditions for innovation and the promotion of advanced sectors of the economy. Challenging the prevailing wisdom on globalization, Democracy and Prosperity reveals how advanced capitalism is neither footloose nor unconstrained-and how it thrives under democracy precisely because it cannot subvert it.

By: Torben Iversen, David Soskice
Imprint: Princeton University Press
Country of Publication: United States
Dimensions: Height: 235mm, Width: 156mm,
ISBN: 9780691210216
ISBN 10: 0691210217
Pages: 360
Publication Date: 15 May 2021
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

Torben Iversen is the Harold Hitchings Burbank Professor of Political Economy at Harvard University. David Soskice is School Professor and Professor of Political Science and Economics at the London School of Economics.