English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Tools annual

Global: Zendy Free Plan

Global: Zendy Tools monthly

Global: Zendy Plus monthly

The often-asserted relation of formal adequacy or elective affinity between capitalism and democracy is historically contingent on both sides of the relation. First, it holds for what Weber called "formally rational capitalism" - which is the form that Marx had previously investigated in Das Kapital - rather than others, such as traditional commercial capitalism or politically oriented capitalism. Second, it holds only to the extent that "the comprehensive contradiction" identified by Marx at the heart of the democratic constitution can be resolved: the contradiction between a universal franchise that potentially gives subaltern classes control over legislative and executive powers and a constitution that protects property rights favourable to capital. Building upon Poulantzas, it is then argued that these conditions are being undermined by the rise of new forms of political capitalism, especially finance-dominated accumulation, that are facilitated in turn by the consolidation of both neoliberalism and "authoritarian statism". This involves the intensification of "exceptional" elements in a formally democratic shell, and the emergence of a permanent state of austerity. The article concludes with comments on the limits of finance-dominated accumulation and the austerity state.

berliner journal für soziologie

Elective affinity or comprehensive contradiction? Reflections on capitalism and democracy in the time of finance-dominated accumulation and austerity states