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An incisive history of the changing relationship between democracy and capitalismThe twentieth century witnessed the triumph of democratic capitalism in the industrialized West, with widespread popular support for both free markets and representative elections. Today, that political consensus appears to be breaking down, disrupted by polarization and income inequality, widespread dissatisfaction with democratic institutions, and insurgent populism. Tracing the history of democratic capitalism over the past two centuries, Carles Boix explains how we got here—and where we could be headed.Boix looks at three defining stages of capitalism, each originating in a distinct time and place with its unique political challenges, structure of production and employment, and relationship with democracy. He begins in nineteenth-century Manchester, where factory owners employed unskilled laborers at low wages, generating rampant inequality and a restrictive electoral franchise. He then moves to Detroit in the early 1900s, where the invention of the modern assembly line shifted labor demand to skilled blue-collar workers. Boix shows how growing wages, declining inequality, and an expanding middle class enabled democratic capitalism to flourish. Today, however, the information revolution that began in Silicon Valley in the 1970s is benefitting the highly educated at the expense of the traditional working class, jobs are going offshore, and inequality has risen sharply, making many wonder whether democracy and capitalism are still compatible.Essential reading for these uncertain times, Democratic Capitalism at the Crossroads proposes sensible policy solutions that can help harness the unruly forces of capitalism to preserve democracy and meet the challenges that lie ahead

"The fundamental question of political theory, one which precedes all other questions about the nature of political life, is why there is a state at all. Is human cooperation feasible without a political authority enforcing it? Or do we need a state to live together? This question also reveals two further problems. If a state is necessary to establish order, how (and when) does it come into place? If it isn't necessary, what are the consequences for the political status and economic welfare of its citizens? Combining a wealth of ethnographical materials, historical cases, and statistical analysis, this book describes the foundations of stateless societies, why and how states emerge, and the basis of political obligation. This book models the economic and political roots of inequality, describes the causes of the stagnation of the preindustrial world, and explores what led to the West's prosperity of the past two centuries"..

Given the increased openness of countries to international trade and financial flows, the general public and the scholarly literature have grown skeptical about the capacity of policy-makers to affect economic performance. Challenging this view, Political Parties, Growth, and Equality shows that the increasingly interdependent world economy and recent technological shocks have actually exacerbated the dilemmas faced by governments in choosing among various policy objectives, such as generating jobs and reducing income inequality, thereby granting political parties and electoral politics a fundamental and growing role in the economy. To make growth and equality compatible, social democrats employ the public sector to raise the productivity of capital and labor. By contrast, conservatives rely on the private provision of investment. Based on analysis of the economic policies of all OECD countries since the 1960s and in-depth examination of Britain and Spain in the 1980s, this book offers a new understanding of how contemporary democracies work