Never before have so many countries enjoyed or at least experimented with democratic institutions, while simultaneously abandoning older models of economic development and introducing reforms centered around market mechanisms.

Thus, both in the field of politics and in that of economics, there is a radical break with the past that takes the form of two simultaneous and interdependent "transitions" towards democracy and the market.

In light of these transitions in Eastern Europe and Latin America, Adam Przeworski raises some fundamental questions regarding democracy and development: which democratic institutions are most likely to produce economic growth accompanied by a fair distribution of wealth? Does the failure of socialism undermine the critique of the irrationality of capitalism? What are the conditions for comparing capitalism and socialism? What are the political conditions for the effective functioning of economic systems? What are the political consequences of economic reforms? What are the economic conditions for the consolidation of democracy?

"Democracy and Market" is one of the most important works of contemporary political science. It is accompanied by a postscript from the author, written specifically for the Greek edition.

[Excerpt from the text on the back cover of the edition]