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U.S. History Topics » Business & Work » Economics

Markets and Democracies

explores questions debated by economic thinkers since the 1700s: What is the connection between markets and democracy? Is it possible to have free markets without democracy? Which develops first? Can the incentive of economic growth lead to greater democracy in countries that are not democratic? (Department of State)

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Interesting Fact:

Today historians are tempted to write the history of the post-communist transitions in Central and Eastern Europe as a story of the irresistible attraction between democracy and capitalism. But 20 years ago many feared that it would be a horror story.
China's Communist Party has adapted to and, so far, prospered with economic reforms.

Marketization without democratization

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