Capitalism and Democracy: The Long March

Author(s)	Dr. Manish Kumar
Country	India
Abstract	The synthesis of liberal democracy and capitalism has been a winning formula in many countries. The emergence of modern liberal democracy and capitalism though has been gradual in many parts of the world. It has been a tumultuous journey of a few hundred years. The industrial revolution laid the groundwork for modern economic growth fueled by the division of labor and technological innovations. The economic changes brought in its wake major social changes that strengthened the impulse for political participation in the following decades. The spread of industrialization encouraged further the separation and specialization of occupations that had far reaching political consequences. In the second-half of the nineteenth century political development towards democracy and capitalism took further root. The onward march of capitalism and democracy however was halted during the inter-war period.
Keywords	capitalism, democracy, economic growth, industrial revolution, development
Published In	Volume 16, Issue 4, October-December 2025
Published On	2025-11-01
DOI	https://doi.org/10.71097/IJSAT.v16.i4.9191
Short DOI	https://doi.org/g99qmh

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