Democracy and capitalism: The price of interconnectedness in the age of globalization
Zinaida I. Rozhkova 
|Abstract: Over several millennia, democracy has undergone the influence of time and cultures, and has been recognized as both an effective and dysfunctional system. Given the influence of such factors, this paper discusses the relationship between capitalist development and democracy, and their essential categorical structure. What is the relationship between democracy and capitalism? Could democracy be possible in a capitalist society? How does the capitalist mode of production influence democratic values and institutions? Changes in the system of capitalism, associated primarily with globalization, have led to a divergence of democracy and justice, and, as a result, they questioned the ability of capitalist principles to bring various benefits to people. Governments are often disarmed in front of multinational corporations and the balance of power between them is far from ideal.
Keywords: Democracy; capitalism; inequality; dysfunctionality; Piketty;
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