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Introduction To Democratic Capitalism
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"Democratic Capitalism" is the practical fusion of Capitalism and Democracy, in which the free market productive benefits of Capitalism are merged with the social justice benefits of Democracy, resulting in "the greatest good for the greatest number, with basic rights for all."
In the USA, this fusion has grown up within a social/cultural environment of common shared values, including: belief in certain human rights, among which are life, liberty, and the pursuit of happiness; belief in the political equality of all citizens; the right to own private property, including real estate; the right to enter into contracts; various other rights of personal freedom, including freedom of speech, freedom of religion, and freedom of association; and recognition of a Divine Being, who created mankind for His own purposes and Who gave all of these rights to man, for the benefit of mankind.
Without these shared values -- or something very similar to them -- it would be unreasonable to expect that Democratic Capitalism could succeed.
For more about Democracy, please see http://www.google.com/search?source=ig&hl=en &rlz=&q=democracy&btnG=Google+Search
For more about Capitalism, please see http://www.google.com/search?source=ig&hl =en&rlz=&q=capitalism&btnG=Google+Search
ORIGIN AND HISTORY OF THE SHARED VALUES IN THE USA
Capitalism and Democracy are compatible, as long as the Capitalists are regulated carefully by the Democratically-elected Government so that the Public interest is best served.
GOVERNMENT REGULATION IS A GOOD THING, A NECESSARY THING, TO KEEP CORPORATIONS ON A LEASH, NOT RUNNING LOOSE IN PUBLIC, UNRESTRAINED BY ANYTHING IN THEIR PERPETUAL QUEST FOR MAXIMUM PROFITS. THIS IS WHAT GOVERNMENT IS FOR!The inherent tensions between Capitalism and Democracy are not new. We have faced them before, about a hundred years ago, and we resolved them then, largely under leadership of President Theodore Roosevelt. But now they have re-emerged in new forms, under the permissive, look-the-other-way eye of the Republican party's Anti-regulation extremists, who have tipped the balance too far to the right, in favor of the unrestrained free-market Capitalists.
President Theodore Roosevelt wrote these words almost a hundred years ago, They applied then, and they still apply today.
"I hold that a corporation does ill if it seeks profit in restricting production and then by extorting high prices from the community by reason of the scarcity of the product; through adulterating, lyingly advertising, or over-driving the help; or replacing men workers with children; or by rebates; or in any illegal or improper manner driving competitors out of its way; or seeking to achieve monopoly by illegal or unethical treatment of its competitors, or in any shape or way offending against the moral law either in connection with the public or with its employees or with its rivals. Any corporation which seeks its profit in such fashion is acting badly. It is, in fact, a conspiracy against the public welfare which the Government should use all its powers to suppress.
"If, on the other hand, a corporation seeks profit solely by increasing its products through eliminating waste, improving its processes, utilizing its by-products, installing better machines, raising wages in the effort to secure more efficient help, introducing the principle of coöperation and mutual benefit, dealing fairly with labor unions, setting its face against the underpayment of women and the employment of children; in a word, treating the public fairly and its rivals fairly: then such a corporation is behaving well. It is an instrumentality of civilization operating to promote abundance by cheapening the cost of living so as to improve conditions everywhere throughout the whole community."
Source: Autobiography of Theodore Roosevelt
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