Capitalist Development and Democracy

It is a commonplace claim of Western political discourse that capitalist development and democracy go hand in hand. Crossnational statistical research on political democracy supports this claim. By contrast, comparative historical studies carried out within a political economy approach argue that economic development was and is compatible with multiple political forms. The authors offer a fresh and persuasive resolution to the controversy arising out of these contrasting traditions. Focusing on advanced industrial countries, Latin America, and the Caribbean, they find that the rise and persistence of democracy cannot be explained either by an overall structural correspondence between capitalism and democracy…