The Marriage of Democracy and Capitalism

Abstract

With the end of the cold war and the fall of the Soviet Union many nations of the world are looking for new political and economic structures to best fulfill an optimistic future. This thesis argues that the best solution for the economic and political needs of a country is Democratic Capitalism. Democracy and capitalism have been common in Western nations for decades. There are variations of the two systems, but all follow the basic pattern of a multi-party political system being combined with a market based economic system. First similarities of Democracy and Capitalism are discussed including: individualism, freedom, equality, personal initiative, constant change dynamic, decentralization and fundamental natural rights. This helps establish the basic similarities of democracy and capitalism. Next the strengths and weaknesses of democracy and capitalism are discussed to shed light on the problems that need to be minimized and the benefits that need to be maximized. It will also be shown how the pairing of democracy and capitalism helps each system to lessen the problems of the other system and, creates a synergy of benefits that is greater than that found in each system alone. This thesis is concluded by a discussion of why democracy and capitalism should not be seen as separate organizational systems, but as two halves of the unified system of Democratic Capitalism. These two systems emerged together and belong together. The organizational system of Democratic Capitalism is the best way to supply the liberty, needs, wants, equality, future and social welfare of a collective society.

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