In “The Crisis of Capitalist Democracy,” from Telos 152 (Fall 2010), Adrian Pabst “charts the rise of capitalist democracy” in its conceptual and historical origin, and then in its empirical and contemporary manifestation, before presenting an alternative. This alternative seeks the re-emergence of an autonomous realm of “civil society” that is not subsumed by either the free market or the liberal democratic state. Pabst begins by sketching the collusion of capitalism and democracy and their subsequent fusing into modern “market-states.” Representative democracy, in the same way that free-market capitalism creates abstract, virtual value from local and material processes, “tends toward the formalization and abstraction of politics from the people it purports to represent.” The collusion, therefore, of democratic states with free-market capitalism has led to a third-way combination of “some of the worst elements of the left and the right.”
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This paper was presented at the 2011 Telos Conference, “Rituals of Exchange and States of Exception: Continuity and Crisis in Politics and Economics.” |
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For Max Weber, the spirit of capitalism is best understood in terms of Calvinist divine predestination. But by focusing on the Protestant work ethic, Weber’s thesis about the origins of modern capitalism is at once too broad and too narrow. Too narrow because he neglects the counter-Reformation Baroque scholasticism of influential Catholic theologians like Francisco Suárez that sunders “pure nature” from the supernatural and thus divorces man’s natural end from his supernatural finality. As a result, human activity in the economy is separated from divine deification and the market is seen as increasingly autonomous. In short, human contract is severed from divine gift. 
