Are Capitalism and Democracy Fundamentally Incompatible? A Conversation with Mordecai Kurz

Are Capitalism and Democracy Fundamentally Incompatible? A Conversation with Mordecai Kurz

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 and democracy work for the good of everyone? I'm happy today to get the chance to speak with such an illustrious scholar and to learn a bit more about how to understand this defining puzzle of our age. Caleb Zakarin is CEO and Publisher of the New Books Network.

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Rahul Mukherjee, "Unlimited: Aspirational Politics and Mobile Media Distribution" (MIT Press, 2026)

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24 Touko 48min

Aymar Jèan Escoffery, "Reparative Media: Cultivating Stories and Platforms to Heal Our Culture" (MIT Press, 2025)

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Silvia Danielak, "Peace Infrastructures: How UN Peace Operations Build Roads, Bridges, and Solar Farms in the Pursuit of Sustainability" (MIT Press, 2026)

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Scott Solomon, "Becoming Martian: How Living in Space Will Change Our Bodies and Minds" (MIT Press, 2026)

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How living in space will affect future generations—and what the potential unintended consequences of space settlements are.We are on the cusp of a golden age of space travel in which, for the first ti...

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