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Democracy and Prosperity – Reinventing Capitalism through a Turbulent Century - Princeton Scholarship Online
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Democracy and Prosperity: Reinventing Capitalism through a Turbulent Century

Torben Iversen and David Soskice


It is a widespread view that democracy and the advanced nation-state are in crisis, weakened by globalization and undermined by global capitalism, in turn explaining rising inequality and mounting populism. This book argues that this view is wrong: advanced democracies are resilient, and their enduring historical relationship with capitalism has been mutually beneficial. For all the chaos and upheaval over the past century—major wars, economic crises, massive social change, and technological revolutions—the book shows how democratic states continuously reinvent their economies through massive ... More

Keywords: democracy, welfare state, public investment, research, education, globalization, advanced capitalism, populism, inequality, poverty

Bibliographic Information

Print publication date: 2019 Print ISBN-13: 9780691182735
Published to Princeton Scholarship Online: September 2019 DOI:10.23943/princeton/9780691182735.001.0001


Affiliations are at time of print publication.

Torben Iversen, author
Harvard University

David Soskice, author
London School of Economics