A study of the compatibility and implementation of economics and democracy using the definitions of socialism, capitalism and democracy of Marx and Friedman.
Written in 2002; 2,400 words; 6 sources; $ 89.95
Paper Summary:
This paper is about the incompatibility of democracy and capitalism. The writer argues, using many classic political economics texts, that socialism would complement democracy's goals better than capitalism, which was developed in a monarchist paradigm of government. Capitalism results in the concentration of power in isolated locations, whereas both socialism and democracy distribute power evenly through a population. The paper cites Marx as well as Friedman, and opens with clear definitions of socialism, capitalism, and democracy drawn from the works of these authors.
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