Published in: Review of Radical Political Economics. Vol. 50, Issue 4, 2018, pp. 793-809.
This article re-examines the relationship between the liberal democracy and the free market with special regard to changes caused by globalization. It concludes that the logic of market mechanisms poses a threat to democracy, while the extension of democracy would inevitably limit the freedom of the market and curb capital accumulation. The globalized free market and liberal democracy contradict each other, and their tandem may be the most developed form of capitalism, but not of human society in general.
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