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Social democracy and capitalism: The fraught link

Different people mean different things when they talk of social democracy and its somewhat close kin, democratic socialism

workers, jobs, employers, socialism, capitalism, companies, production, manufacturing, economy, demographic, workforce
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Pranab Bardhan
In my earlier column, “Prospects of Social Democracy in a Post-Pandemic World” I did not have the time or space to discuss some systemic issues, like the fraught link of social democracy to the capitalist mode of production. Different people mean different things when they talk of social democracy and its somewhat close kin, democratic socialism. I usually associate the former with the mode of production remaining essentially capitalist, though with some important modifications, and the latter with the case where the ownership or control of the means of production is primarily with non-private entities (the state
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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