Generally speaking there are two global systems characterising world economy with all ranges of sub-systems and combinations in between: Main Street Markets and Wall Street Capita (http://www.neweconomyworkinggroup.org/visions/new-economy-vision/real-markets-and-real-democracy/main-street-markets-vs-wall-street-capita).

The balance between Capitalism and Democracy, however, has been a central global issue in human history. It went through a long journey with different acts. In this context, Democratic Capitalism is a system of political economy of three more or less independent systems: free economy, free polity and free morals and cultures. Democratic Capitalism has attractive features with many different kinds of capitalism and varieties of democracies: France is not the United States; Sweden is not Italy; the United Kingdom is not South Korea; Japan is not Singapore, …….. and so on.

The prosperity of free societies depends on certain moral and cultural practices and in the long run, democracy is a necessity for the success of capitalism. Historically, the last act of Democratic Capitalism is the moral and cultural component: granted that people has gained economic liberty from poverty and political liberty from tyranny, what is the moral and cultural ecology for the survival of free people. A corrupt, lazy, dishonest and decadent society cannot preserve human liberty. It will breed a nation of serfs and slaves, who do not want to carry the responsibilities of free persons, but want only to have others take care of their needs.

Read more at: http://www.nationalreview.com/article/359306/democratic-capitalism-michael-novak