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In Private Power and Democracy’s Decline, Mordecai Kurz explores the relationship between free-market capitalism and democracy. He shows that technology has made capitalism different from what was 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 free-market capitalism. Such private power creates political inequality and generates forces that cause democracy’s decline and possible destruction.
Applying these ideas to the US, Kurz shows that today’s problems begin in the 1980s with the policy of unregulated free-market capitalism. Coupled with the information technology revolution, this created a techno-winner-takes-all economy—leading to a second Gilded Age of unsustainable inequality and extreme political polarization. In the last 50 years, the economy “boomed” for some while leaving the majority of America’s workers behind.
Kurz concludes that only regulated capitalism can support democracy so that the benefits of technology are more equally shared and no person’s livelihood is destroyed to enable others to be enriched. To save democracy, he proposes a “restoration-of-livelihood” policy, offering firms managerial flexibility to maintain rising productivity while ensuring that technology does not destroy the livelihood of others.
In Private Power and Democracy’s Decline, Mordecai Kurz explores the relationship between free-market capitalism and democracy. He shows that technology has made capitalism different from what was 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 free-market capitalism. Such private power creates political inequality and generates forces that cause democracy’s decline and possible destruction.
Applying these ideas to the US, Kurz shows that today’s problems begin in the 1980s with the policy of unregulated free-market capitalism. Coupled with the information technology revolution, this created a techno-winner-takes-all economy—leading to a second Gilded Age of unsustainable inequality and extreme political polarization. In the last 50 years, the economy “boomed” for some while leaving the majority of America’s workers behind.
Kurz concludes that only regulated capitalism can support democracy so that the benefits of technology are more equally shared and no person’s livelihood is destroyed to enable others to be enriched. To save democracy, he proposes a “restoration-of-livelihood” policy, offering firms managerial flexibility to maintain rising productivity while ensuring that technology does not destroy the livelihood of others.
Introduction: Why Free Market Capitalism Endangers Democracy
Part A: Basic Concepts, Profit Incentive, and Some Historical Evidence
Chapters: 1-3
Introduction to Part A
Chapter 1. Some Preliminary Reflections
Chapter 2. Economic Motives and the Quest for Power
Chapter 3. Can We Prevent the Clash of Democracy and Capitalism by Repairing Market Failures?
Part B: Rising Market Power, Techno-Winer-Takes-All Economy, and the Decline of Democracy
Chapters 4 -7
Introduction to Part B
Chapter 4. Why Market Power Is Permanent In A Free Market Economy
Chapter 5. The Economic Consequences of Techno-Winner-Takes-All Capitalism
Chapter 6. The Political Fallout of Techno-Winner-Takes-All Capitalism
Chapter 7. Why Is Democracy On The Decline?
Historical Appendix to Chapter 7: The Decline of the Roman Republic
Part C: Making Capitalism Support Democracy: An Integrated Policy
Chapters 8 -9
Introduction to Part C
Chapter 8. An Economic Restoration Policy to Revitalize Democracy
Chapter 9. An Integrated Policy to Make Capitalism Support Democracy
References
Index
| Medium: | Taschenbuch |
|---|---|
| Inhalt: | Einband - flex.(Paperback) |
| ISBN-13: | 9780262053525 |
| ISBN-10: | 0262053527 |
| Sprache: | Englisch |
| Einband: | Kartoniert / Broschiert |
| Autor: | Kurz, Mordecai |
| Hersteller: | The MIT Press |
| Verantwortliche Person für die EU: | Libri GmbH, Europaallee 1, D-36244 Bad Hersfeld, gpsr@libri.de |
| Abbildungen: | 3 |
| Maße: | 226 x 152 x 25 mm |
| Von/Mit: | Mordecai Kurz |
| Erscheinungsdatum: | 19.05.2026 |
| Gewicht: | 0,388 kg |
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