The concept
of "capitalistic democracy" represents a
duality, so the applicable characteristics will have a
dual nature: there will two types of characteristics. The first set
of characteristics will define an economic system while the second
set will define a political system. Capitalistic democracy
represents the merging of an economic approach with a political approach and is alternately
called "democratic capitalism."
An economic
system is most simply
defined as a system by which resources are allocated and by
which goods and services are produced, distributed and consumed. A more
complex definition is provided by S. Gabriel
of Mount Holyoke College:
An economic system is comprised
of the various processes of organizing and motivating labor, producing, distributing, and
circulating of the fruits of human labor, including products and services, consumer goods,
machines, tools, and other technology used as inputs to future production, and the
infrastructure within and through which production, distribution, and circulation occurs. (S.
Gabriel, Mount Holyoke College)
A political system is
simply defined as the norms and laws of a
nation or state that structure who has authority to govern the people and how it will be done:
"A political system consists of the formal and informal structures which manifest the
state's sovereignty over a territory and people" (R.J. Rummel on University of Hawai€˜i).
An elaboration on the definition is given by S. Gabriel of Mount Holyoke College:
[T]hese economic systems are usually defined within determinate
political boundaries. ... bounding economic systems in this way provides a way of discussing how
such systems are made possible and changed by the specific effects of politico-institutional,
cultural, and environmental differences. Thus, one might discuss how the capitalist economic
system of 1999 Germany is different from the capitalist economic system of 1999 Britain, for
example.
The first part of discussing
capitalistic democracy, then is to discuss "capitalism."
Capitalism is defined as that economic system in which ownership is private and for which there
is a public market for goods and services produced and in which there is a market for the labor
forces employed to produce goods and services. Supply and demand and Adam Smith's
"invisible hand" are felt and unfelt motivators in the capitalist "free"
economic system: "free" because individuals, within the limits of their individual or
household resources, freely participate in the marketplaces for labor and consumerism of goods
and services.
Characteristics
- free participation (within individual limitations)
- private ownership
- market places
- supply and
demand - "invisible hand" motivating to efficient private
enterprise
The second part of discussing capitalistic
democracy is to discuss "democracy." Democracy
is defined as that political system in which the governing decision makers are elected in open,
unrestrained, universal elections by voters who have freedom of choice and freedom of expression
and unhampered access to alternate sources of information about issues critical to their
well-being and to their selection of elected officials and representatives in a society that
recognizes their autonomy (freedom) and citizenship and for which the government takes
responsibility to a greater or lesser degree for their well-being.
Characteristics
- government
responsibility for well-being of citizens - autonomy and
citizenship - freely elected officials and representatives
- unhampered and alternate sources of information
- decision makers
chosen in free, universal elections
Holyoke College
Hawai€˜i
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