Understanding Novak’s Spirit of democratic capitalism through “the corporation”

Abstract

Many social theorists hold that the corporation is the key institution of the modern world. Novak wrote four books on the corporation, viewing it as the chief instrument of innovation within “democratic capitalism”, and the concrete entity in which its three systems (political, economic, moral-cultural) converge. We look at Novak’s account with its roots in Maritain, and at Novak’s intention to ground this account in the ideals of the American Founding, and in a Christian understanding of grace. “The corporation” turns out to be an excellent pathway into Novak’s thought and a safeguard against some fundamental mistakes in interpreting him.

Keywords

• michael novak
• democratic capitalism
• capitalism
• corporation
• civil society
• maritain
• free society