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Private Power And DemocracyS Decline: How To Make Capitalism Support Democracy
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Why Unfettered FreeMarket Capitalism Endangers DemocracyAnd What To Do About It.In Private Power And DemocracyS Decline, Mordecai Kurz Explores The Relationship Between FreeMarket Capitalism And Democracy. He Shows That Technology Made Capitalism Different From That Envisioned In The Age Of Enlightenment. Technology Creates Centers Of Market Power And Monopoly Concentration That Result In A Society In Which Some People Are Enriched Immensely, While Many Workers Livelihoods Are Often Destroyed. Contrary To Conventional Thinking, Technological Competition Does Not Remove Market Power, Which Becomes A Permanent Fixture Of FreeMarket Capitalism. Such Private Power Creates Political Inequality And Generates Forces Causing DemocracyS Decline And Possible Destruction.Applying These Ideas To The Us, Kurz Shows That TodayS Problems Begin With The Policy Of Unregulated FreeMarket Capitalism Introduced In The 1980S. Coupled With The Information Technology Revolution, This Combination Created A TechnoWinnerTakesAll EconomyLeading To A Second Gilded Age Of Unsustainable Inequality And Extreme Political Polarization. In The Last 50 Years, The Economy Boomed For Some While Leaving Behind The Majority Of AmericaS Workers.Kurz Concludes That Capitalism Can Support Democracy Only By Being Regulated, Where The Benefits Of Technology Are More Equally Shared And No PersonS Livelihood Is Destroyed To Enable Others To Be Enriched. To Save Democracy, He Proposes A Preservation Of Livelihood Policy, Offering Firms Managerial Flexibility To Maintain Rising Productivity, But Ensuring That Technology Does Not Destroy The Livelihood Of Others.
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