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Capitalism and Democracy

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  • Theo C.M.J. van de Klundert

Abstract

Capitalism is driven by technological revolutions, leading to alternating periods of regulation and deregulation in leading economies. Technologically backward countries face a different situation as they have to catch up with the leaders. Against this backdrop, Theo van de Klundert examines the relationship between capitalism and democracy, combining economic theory and historical description to analyse long-run economic development. Emphasis is placed on the interrelation between economic and political power, and a robust state-of-the-art overview of today’s political economy is presented.

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Suggested Citation

  • Theo C.M.J. van de Klundert, 2013. "Capitalism and Democracy," Books, Edward Elgar Publishing, number 15248.
  • Handle: RePEc:elg:eebook:15248
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    References listed on IDEAS

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    1. Iizuka, Michiko & Soete, Luc, 2011. "Catching up in the 21st century: Globalization, knowledge & capabilities in Latin America, a case for natural resource based activities," MERIT Working Papers 071, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    2. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 70(1), pages 65-94.
    3. David N. Weil, 2005. "Accounting for the Effect of Health on Economic Growth," NBER Working Papers 11455, National Bureau of Economic Research, Inc.
    4. Carlota Perez, 2009. "The double bubble at the turn of the century: technological roots and structural implications," Cambridge Journal of Economics, Oxford University Press, vol. 33(4), pages 779-805, July.
    5. R. C. Allen, 2011. "Why the industrial revolution was British: commerce, induced invention, and the scientific revolution," Economic History Review, Economic History Society, vol. 64(2), pages 357-384, May.
    6. Lipsey, Richard G. & Carlaw, Kenneth I. & Bekar, Clifford T., 2005. "Economic Transformations: General Purpose Technologies and Long-Term Economic Growth," OUP Catalogue, Oxford University Press, number 9780199290895.
    7. Smulders, J.A. & van de Klundert, T.C.M.J., 2004. "Monopolistic competition and economic growth," Other publications TiSEM a0d31c9b-9be8-4137-ad77-b, Tilburg University, School of Economics and Management.
    8. Freeman, Chris & Louca, Francisco, 2002. "As Time Goes By: From the Industrial Revolutions to the Information Revolution," OUP Catalogue, Oxford University Press, number 9780199251056.
    9. McNally, Christopher A., 2011. "China's Changing Guanxi Capitalism: Private Entrepreneurs between Leninist Control and Relentless Accumulation," Business and Politics, Cambridge University Press, vol. 13(2), pages 1-29, August.
    10. North, Douglass C. & Weingast, Barry R., 1989. "Constitutions and Commitment: The Evolution of Institutions Governing Public Choice in Seventeenth-Century England," The Journal of Economic History, Cambridge University Press, vol. 49(4), pages 803-832, December.
    11. Matthew B. Canzoneri & Dale W. Henderson, 1991. "Monetary Policy in Interdependent Economies: A Game-Theoretic Approach," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031787.
    12. Ton van Schaik & Theo van de Klundert, 2013. "Employment protection legislation and catching-up," Applied Economics, Taylor & Francis Journals, vol. 45(8), pages 973-981, March.
    13. Hyman P. Minsky, 1995. "Longer Waves in Financial Relations: Financial Factors in the More Severe Depressions II," Journal of Economic Issues, Taylor & Francis Journals, vol. 29(1), pages 83-96, March.
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    Book Chapters

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    Keywords

    Economics and Finance;

    JEL classification:

    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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