The interdependence of democracy and capitalism : an honors thesis (HONRS 499)

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Merritt, Kathryn M.
Sundaram, Srinivasan
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Thesis (B.?.)
Honors College
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The theories of democracy and capitalism exist and function independently, but nations that utilize both theories simultaneously have realized the greatest and most enduring success. Careful scrutiny of the United States, the preeminent example of the long-term synthesis of democracy and capitalism, and India, one of the world's oldest and largest democracies which has recently begun to combine capitalism with democracy, offers insights on the social and economic impact of capitalistic democracy. An in-depth history of the progress of these two nations provides the reasons each chose to utilize these forms of economic and governmental structures, along with the positive effects felt within and without each nation's borders. The effects of globalization and the exportation of the theory of capitalistic democracy are noted as each relates to other emerging nations such as China and the former Soviet nations that are currently embarking on various methods of integrating the theories into their current structures. A comprehensive review of evidence supports the theory of interdependence of democracy and capitalism and the overwhelming benefit each theory gains when it is simultaneously supported by the other.