Milkis, Sidney and Miller, Scott / Can Democracy and Capitalism Be Reconciled?

Sidney M. Milkis is the White Burkett Miller Professor in the Department of Politics and a Senior Fellow at the Miller Center of Public Affairs, University of Virginia. He was awarded the Cavaliers' Distinguished Teaching Professorship for 2018-2020, the highest teaching award at the University of Virginia, which recognizes an eminent scholar for outstanding undergraduate teaching.

Scott C. Miller is Assistant Professor of Business Administration at the Darden School of Business and Director of the Project on Democracy and Capitalism at the University of Virginia.

In Can Capitalism and Democracy Be Reconciled?, Sidney M. Milkis and Scott C. Miller have gathered a truly eminent cast of contributors to provide a multidisciplinary examination at the intersection of capitalist economies and democratic political systems across time and space. Featuring twenty-four essays from scholars across nine different academic fields, the volume interrogates the ideas, history, and policy behind these two pillars of liberal society.

The volume begins with an introduction that explores the vibrant historical debate over whether democracy and capitalism can and should coexist in America. The contributors, further examining the United States and comparable countries, conclude that democracy and capitalism can be reconciled; at the same time, many recognize that the relationship is fragile and urge systemic changes that might sustain democratic capitalism in the future. The core thematic sections begin with an examination of the foundational yet fluid meaning of democracy and capitalism and consider the inherent tensions in reconciling them. The remaining sections address the underlying causes of, and solutions to, five modern "pathologies" of democratic capitalism: 1) Environmental Degradation; 2) Governance and Consolidation of Private Power; 3) Inequality and Opportunity; 4) Polarization; and 5) Frictions at the Intersection of Popular Will and Sound Policy. By examining these pathologies from many disciplinary and temporal angles, this volume provides a rounded understanding of why these pathologies arose, how they have influenced society, and how free people can reform their political economy to bring it more in line with their values.

9780197774700

Oxford University Press

October 2025

Paperback

Milkis, Sidney and Miller, Scott / Can Democracy and Capitalism Be Reconciled?