On November 30 the Hansard Society launched the third publication in the Democracy Series – Democracy and Capitalism – at a public meeting at the University of Manchester.
The audience heard from Professor Gerry Stoker (University of Manchester) and Stewart Wallis (new economics foundation) contributed commentaries to the publication. The meeting was chaired by Alex Brazier (Director, Parliament and Government Programme, Hansard Society) who highlighted the key points Lord Dahrendorf made in the main essay of Democracy and Capitalism.
A summary of the debate…
- Alex Brazier – Lord Dahrendorf notes that democracy and capitalism are sometimes intertwined in their onward march, yet China and some other Asian countries seem to dispute this assumption thus far. He also points out that capitalism is a force without borders while democracy is constrained by the institutions of the nation-state leaving an uncertain future for democracy in a world of global capital.
- Professor Gerry Stoker asserted his belief in democracy as a universal value suggesting that all human beings have an interest in influencing decisions that affect their lives. He also stated that the delivery of effective democracy has become harder with globalisation and that a professional elite of activists within the political sphere has negatively affected engagement.
- Stewart Wallis stressed that although progress in capitalist societies is measured by greater GDP this is not in fact increasing happiness and wellbeing. He believes that a new model for economic growth that is sustainable must be found to combat the increasing problems created by global climate change.
Thank you to all who attended the event and contributed towards an interesting debate.
