Dose Capitalism Undermine Democracy

Dose Capitalism Undermine Democracy

The father of what has become known as the “modernization theory” of democratization is Seymour Martin Lipset. One is hard pressed to find an analysis of democracy that does not refer to his important work in the 1950s, which established a connection between capitalistic prosperity and democratic governance. In his view, economic success brought on by a transition to industrial, free market capitalism goes on to breed democracy. It not only breeds democratic governance, but appears critical in sustaining and consolidating democracy as well. Subsequent research conducted by Adam Przeworski and Fernando Lemongi supports ...