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CapitalismThe Future of an Illusion$
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Fred L. Block

Print publication date: 2018

Print ISBN-13: 9780520283220

Published to California Scholarship Online: January 2019

DOI: 10.1525/california/9780520283220.001.0001

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PRINTED FROM CALIFORNIA SCHOLARSHIP ONLINE (www.california.universitypressscholarship.com). (c) Copyright University of California Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CALSO for personal use.date: 25 June 2022

The Illusion That Democracy Threatens the Economy

The Illusion That Democracy Threatens the Economy

(p.60) Chapter Three The Illusion That Democracy Threatens the Economy

Fred L. Block

University of California Press

This chapter challenges the conventional view that there is a deep tension between democracy and a profit-oriented economy. It argues, on the contrary, that democracy has been critical to the vitality of developed economies, because it provides the protection against the slide into oligarchy and economic stagnation.

Keywords:   capitalism, democracy, oligarchy, dynamism

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