Mayor Pete’s “Democratic Capitalism”

This election cycle has seen a return of the old boogey man….the “S” word….and it seems to be popular with the electorate……it will be Trump’s whole campaign in 2020.

The rising star (for now) in the Dem field for the 2020 election has used a term that his me concerned……”Democratic Capitalism”……I read the term in an article about an interview he had for VOX…..a great interview so please read the whole thing and learn about this candidate for he has a lot to offer the American people……

In the past few weeks, Pete Buttigieg — the 37-year-old gay (why does this matter?) mayor of South Bend, Indiana — has become a surprising standout in the crowded 2020 Democratic field.

But as popular as Buttigieg is right now, there are still a lot of questions swirling around his candidacy. Can a mayor of a moderately sized city really make the leap to be president? Why is he getting so much media attention when female candidates with similar policy chops, like Sen. Elizabeth Warren (D-MA), aren’t? And where does Buttigieg fit in the big questions dividing the Democratic Party,from the rise of socialism to the direction of foreign policy?

I wrote that I was concerned about the use of the term and now I shall explain……

As an old fart I am a child of the Cold War and the term means to me……… Democratic capitalism, also known as capitalist democracy, is a political, economic, and social system and ideology based on a tripartite arrangement of a market-based economy based predominantly on a democratic policy, economic incentives through free markets, fiscal responsibility and a liberal moral-cultural system which encourages pluralism. This economic system supports a capitalist free market economy subject to control by a democratic political system that is supported by the majority. It stands in contrast to authoritarian capitalism by limiting the influence of special interest groups, including corporate lobbyists, on politics. It is argued that the coexistence of modern capitalism and democracy was the result of the creation of the modern welfare state that allowed for a relatively stable political atmosphere and widespread support for capitalism during the Golden Age of Capitalism in the post-war era. The United States is often seen as having democratic capitalism as its political-economic system, although Robert Reich argues it has become more authoritarian in recent decades.

To me “Democratic Capitalism” leads to inequality as we see it on the rise today…..(below is a European look at DC but it holds true everywhere)….

When the question “Does inequality threaten the sustainability of Western democratic capitalism?” is asked, we need to break the question into three constituent parts in order to come up with a solid answer:

I have deep problems with what I see as unrestrained capitalism and the steep rise of inequality….but I want to be fair in my presentation…..below is a “pro” article on the issue of democratic capitalism……

For all its faults and limitations, “democratic capitalism” has one very attractive feature: It embraces many different kinds of capitalism and many different kinds of democracy. It is obvious that France is not the United States (Tocqueville recognized that in 1835). Sweden is not Italy. The United Kingdom is not South Korea. Japan is not Singapore. And so on.

When I wrote The Spirit of Democratic Capitalism in 1982, there were many fewer political economies than there are today that could be described as democratic in their political part and capitalist in their economic part. Consider the “Asian Tigers” plus the Philippines and Bangladesh in Asia, several Latin American nations (led by Chile), several of the nations formerly under Soviet control in Eastern Europe, and the many others that have emerged since the early 1980s as capitalist, but not democratic.

I still have reservation about unbridled capitalism…..all you have to do is look at the facts where corporate bonuses have out performed wages by many percentiles……capitalism only is working for the uber rich and the rest of us have to be thankful for the scraps they throw at us.

When it comes to Mayor Pete for me he is an attractive candidate, at least for now……but is he anti-war?

Why did I lead with the “S” word?

Because I could.

Turn The Page!


9 thoughts on “Mayor Pete’s “Democratic Capitalism”

  1. Unbridled capitalism is a harmful system I agree. Today’s megabanks and megacorps have too much power and wealth is being concentrated in the hands of fewer and fewer at the top leaving the rest of us at their whim and we remain pay check to pay check wage earners. Democratic capitalism with restraint advocated by progressives like Theodore Roosevelt gives it that fair deal, square deal, opportunity driven American color. Seems OK but seems a gateway to democratic socialism with tax on upper class that destroys the entrepreneurial class which creates wealth.

    1. Look at the tax cuts it has created very little entrepreneurial spirit……they are getting away with murder and not responsibility they blame the poor and the system….Democratic Socialism is still a capital system for it still uses the markets……so socialism it is not….but that never stop the lies before….chuq

  2. Mayor Pete got my attention very early on and he does suggest a welcome difference from our Buffoon-in-chief. But here’s the thing “we” need to be careful about as we measure up the candidates. Collectively we are so desperately in need of someone “not Trump” that we could be vulnerable to not accepting certain traits we want to see in a president, just for the sake of “normalcy” again. The kid is articulate, has a focused view of what he feels is right & wrong.. and his perceptions of how the issues could be handled that, on the surface, make some sense. He’s also likable… and young.
    BUT… I tend to favor my idea of a president in two avenues. The first, does he/she have the wherewithal to carry out domestic policy, be the nation’s cheerleader in all areas (but not as a mask to hide truly “bad” issues, nor mix in bravado). Second, I’m very into our national responsibility to globalism, hence I’d personally like to see a president have a commanding presence on the international stage… both in policy and deed but also in appearance… which means a LOT on the world stage. A guy who can form alliances and encourage friendships. And.. I’d want the person to be able to be tough when tough is needed and not be afraid to get involved in conflict . BUT… at the same time only get involved after all diplomacy has been exhausted and only after strenuous review.. and with Congressional input. Probably unlike you, chuq, I’d not want a peace president if peace is simply an extended personal trait of being a wus. Mayor Pete seems a smart guy, no question, but his general image… I dunno. The fact that he is gay means little to me… but.. it’s been my observation in life that gay folks tend to be of complacent nature. Mayor Pete is ex-military and that’s great.. but I’d like to know more what he did in the service to give me a clue of his ability to get tough when needed.
    But here’s another concern.. I have no issue with him being gay. But there would be a LOT of people in this country maybe having some issue with his spouse being the .. First Spouse, who is also male? It’s one thing if Hillary had won and Bill became a First Man or whatever.. but there would be an image thing with two guys.. and wondering who might be running the country behind the scenes. I could care less.. but the country has not gotten mature enough to tolerate that arrangement because our presidency is more than just the president himself. We tend to celebrate the entire family.
    In the last couple days my old home town, Chicago, just got a new mayor who is not only a black and female, but also gay… with a spouse. So.. who knows.

  3. A month or two ago, I came across a different term … “progressive capitalism.” I find I’m very inclined towards it.

  4. Hey, this post is really great, congrats!
    Do you know that German philosopher, economist, sociologist, Karl Marx , was actually against capitalism , he said it is fundamentally flawed to be great ideology. And he even said that it would one day come down.but this didn’t came out true , there are many reasons out there which the corporate is playing with..
    As I went through this post I think you are interested to know more .. Here it is
    Have a great day, thank you

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