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Democracy, Capitalism, and their Institutions

Publication at Faculty of Arts |
2014

Abstract

The article contemplates the relationship between democracy and capitalism and the roles of their institutions. It shows that democracy as a political system is based on independent principles, values and ideas, and it requires an organization of the society with the use of specific political and public institutions.

On the other hand, capitalism as socio-economical system is one of the significant social sub-systems of the democratic society and capitalist economical processes may be stabilized only through the democratic institutions. Nevertheless, as the author concludes, it is the interconnection between the institutions of democratic state and a modern capitalist economy that produces permanent systemic pressure undermining democratic institutions.