Capitalism, Antitrust, and Democracy

• Date: 01 June 2016
• Author: Evan Edward Laine,Raju Parakkal
• DOI: 10.1177/0003603X16641234
• Published date: 01 June 2016

Article

Capitalism, Antitrust, and

Democracy: Perfect Partners

or Strange Bedfellows?

Raju Parakkal* and Evan Edward Laine*

The articles included in this symposium examine the interesting relationships that capitalism, democ-

racy, and antitrust share with each other. These articles examine how antitrust laws and practices evolved

in response to capitalistic pressures and democratic demands in some parts of the world. They also

explore the impact that antitrust laws and regulations exert on capitalism and democracy. To better assist

in examining the connections and conflicts of antitrust laws with the philosophies and practices of

capitalism and democracy, we structured this symposium in a manner that facilitates a deliberative and

dialectical analysis of these relationships. Each article is followed by a commentary article that engages

with the main article to offer both supportive and critical evaluations. The author of the main article then

provides a formal response to the commentary article. This symposium is, therefore, organized as a

series of ‘‘scholarly exchanges’’ among the contributing authors. This introduction engages only with

the round of arguments made in the main and commentary articles and leaves out the rejoinders and

clarifications contained in the responses. Interested readers are encouraged to read the responses pro-

vided by authors of the main articles to the arguments raised in the commentary articles.

In invoking the title of Joseph Schumpeter’s magnum opus, Capitalism, Socialism and Democracy,

1

as inspiration for the title of this symposium, we at once highlight the nature of the domains of focus

for this symposium while alluding to the similar conundrums and complexities that characterized

Schumpeter’s analysis of these three politico-economic structures of a society. More substantially,

we invite attention to the complicated nature of the relationships that antitrust law shares with both

capitalism and democracy. In its empirical relationship with capitalism and democracy, however,

antitrust laws appear uncomplicated, as they are seen more in countries that are capitalistic and

democratic compared to statist and authoritarian ones.

2

Therefore, one could summarily conclude that

*Philadelphia University, Philadelphia, PA, USA

Corresponding Author:

Raju Parakkal, Assistant Pr ofessor of International Rel ations, Philadelphia Unive rsity, 4201 Henry Avenue, Rav enhill 207,

Philadelphia, PA 19144, USA.

Email: parakkalr@philau.edu

1. JOSEPH A. SCHUMPETER,CAPITALISM,SOCIALISM AND DEMOCRACY (e-edition 2003).

2. For an empirical examination of the causal connections between capitalism, democracy, and antitrust laws in the context of

developing countries, see Raju Parakkal & Sherry Bartz-Marvez, Capitalism, Democratic Capitalism, and Antitrust Laws,58

ANTITRUST BULL. 694 (2013).

The Antitrust Bulletin

2016, Vol. 61(2) 231-235

ªThe Author(s) 2016

Reprints and permission:

sagepub.com/journalsPermissions.nav

DOI: 10.1177/0003603X16641234

abx.sagepub.com