Capitalism and Democracy

It is a common-place that the twentieth century ended with the establishment of capitalism and democracy as the “one best way”. In triumphalist accounts of the end of the Cold War the two are commonly presented as sharing a natural affinity. As never before the democratic formula was recommended for truly global application. To suggest the possibility of a contradiction between capitalism and democracy has come to seem like a gesture of outrageous conservative cynicism, or leftist subversion. And yet the convergence of capitalism and democracy is both recent and anything other than self-evident. It has been placed in question once again since 2008 in the epic crisis of Atlantic financial capitalism. This course examines the historical tensions between these two terms in the Atlantic world across the long 20th century from the 1890s to the present day.