Authoritarian capitalism is rapidly evolving, intensifying and spreading across the globe. This updated second edition book demonstrates that the recent resurgence of fascism and repressive democracies are connected to and symptomatic of the fundamental authoritarianism of capitalism.

The liberal-democratic world order is confronting the rise of authoritarian state-led corporate interventions. This book explains how and why.

This book explores how global capitalism has reconfigured state-market relations, and how interactions among capital, labor and consumption threaten democracy. It is for specialists in political economy, political science, economics, sociology, international relations and development studies, and for supplemental use on undergraduate and graduate courses on globalization, capitalism, development, and democracy.

The rise of populism in the West and the rise of China in the East have stirred a rethinking of how democratic systems work—and how they fail. The impact of globalism and digital capitalism is forcing worldwide attention to the starker divide between the “haves” and the “have-nots,” challenging how we think about the social contract. With fierce clarity and conviction, Renovating Democracy tears down our basic structures and challenges us to conceive of an alternative framework for governance. To truly renovate our global systems, the authors argue for empowering participation without populism by integrating social networks and direct democracy into the system with new mediating institutions that complement representative government. They outline steps to reconfigure the social contract to protect workers instead of jobs, shifting from a “redistribution” after wealth to “pre-distribution” with the aim to enhance the skills and assets of those less well-off. Lastly, they argue for harnessing globalization through “positive nationalism” at home while advocating for global cooperation—specifically with a partnership with China—to create a viable rules-based world order. Thought provoking and persuasive, Renovating Democracy serves as a point of departure that deepens and expands the discourse for positive change in governance.

Neoliberal globalization is in deep crisis. This crisis is manifested on a global scale and embodies a number of fundamental contradictions, a central one of which is the global rise of authoritarianism and fascism. This emergent form of authoritarianism is a right-wing reaction to the problems generated by globalization supported and funded by some of the largest and most powerful corporations in their assault against social movements on the left to prevent the emergence of socialism against global capitalism. As the crisis of neoliberal global capitalism unfolds, and as we move to the brink of another economic crisis and the threat of war, global capitalism is once again resorting to authoritarianism and fascism to maintain its power. This book addresses this vital question in comparative-historical perspective and provides a series of case studies around the world that serve as a warning against the impending rise of fascism in the 21st century.

The end of the Cold War ushered in an age of American triumphalism best characterized by the "Washington Consensus:" the idea that free markets, democratic institutions, limitations on government involvement in the economy, and the rule of law were the foundations of prosperity and stability. The last fifteen years, starting with the Asian financial crisis, have seen the gradual erosion of that consensus. Many commentators have pointed to the emergence of a powerful new rival model: state capitalism. In state capitalist regimes, the government typically owns firms in strategic industries. Not beholden to private-sector shareholders, such firms are allowed to operate with razor-thin margins if the state deems them strategically important. China, soon to be the world's largest economy, is the best known state capitalist regime, but it is hardly the only one. In State Capitalism, Joshua Kurlantzick ranges across the world--China, Thailand, Brazil, Russia, South Africa, Turkey, and more--and argues that the increase in state capitalism across the globe has, on balance, contributed to a decline in democracy. He isolates some of the reasons for state capitalism's resurgence: the fact that globalization favors economies of scale in the most critical industries, and the widespread rejection of the Washington Consensus in the face of the problems that have plagued the world economy in recent years. That said, a number of democratic nations have embraced state capitalism, and in those regimes, state-backed firms like Brazil's Embraer have enjoyed considerable success. Kurlantzick highlights the mixed record and the evolving nature of the model, yet he is more concerned about the negative effects of state capitalism. When states control firms, whether in democratic or authoritarian regimes, the government increases its advantage over the rest of society. The combination of new technologies, the perceived failures of liberal economics and democracy in many developing nations, the rise of modern kinds of authoritarians, and the success of some of the best-known state capitalists have created an era ripe for state intervention. State Capitalism offers the sharpest analysis yet of what state capitalism's emergence means for democratic politics around the world.

"The rise of populism in the West, the rise of China in the East and the spread of peer-driven social media everywhere are prompting a deep rethinking of how democracy works -- or doesn't. The creation of new classes of winners and losers as a result of globalization and digital capitalism are also challenging how we think about global interconnectivity and the social contract. If contemporary democracies are going to take back control and compete with autocratic systems on the world stage while avoiding their own suicide through polarization and paralysis fueled by untrustworthy information, they need a radical renovation that responds to the forces undermining them. Above all, such a renovation must engage the participatory power of social media and the increasing preference of publics for direct democracy by designing new, impartial institutions and practices that interpose a deliberative check against the false claims, misinformation, intolerance and magical thinking that come along with the immediate wash of networked popular sentiment. In short, participation without populism. A new social contract is also necessary that spreads the wealth through an equity share for all through "owning the robots" in a future where intelligent machines are on track to displace labor, depress income and transform the nature of work to an unprecedented degree. Harnessing globalization requires a partnership instead of rivalry with China, the new power of the 21st century"--Provided by publisher.