Are Capitalism and Democracy Fundamentally Incompatible? A Conversation with Mordecai Kurz
About this episode
The episode features a discussion with Mordecai Kurz about the relationship between capitalism and democracy, exploring how to balance economic and political freedom.
Today I'm speaking with Mordecai Kurz, Joan Kenney Professor of Economics Emeritus at Stanford University. We are discussing his latest book, Private Power and Democracy's Decline: How to Make Capitalism Support Democracy (MIT Press, 2026). After its high-water mark several decades ago, democracy's status continues to slide globally. Capitalism and democracy, which once seemed to complement each other, now appear at odds. Free-market policies and monopolistic technologies have enriched many while driving inequalities that harm workers. Many have opined on how to fix the political and economic problems of our day, from an embrace of radical libertarian policy to socialist ownership of the means of production. Mordecai Kurz's extensive study of capitalism and democracy charts a path for balancing economic and political freedom. Since the days of Adam Smith, technology has changed rapidly, necessitating new formulations that take into account the private power centers that exercise control much like monarchies did in the Age of Enlightenment. Despite the imbalance, capitalism still remains a driver of technological progress and innovation. How can we make both capitalism…
People in this episode
Host: Caleb Zakarin
Guest: Mordecai Kurz
Topics covered
- capitalism
- democracy
- economic inequality
- political freedom
- technological progress
Keywords
- capitalism
- democracy
- economic inequality
- Mordecai Kurz
- technological progress
- political freedom
- MIT Press
Mentioned in this episode
Organizations: Stanford University, MIT Press
Books & works: Private Power and Democracy's Decline: How to Make Capitalism Support Democracy
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