When certain branches of the economy become obsolete, as in the case of the steel industry, not only do jobs disappear, which is obviously a terrible social hardship, but certain cultures also disappear.

Capitalism has been one of the most dynamic forces in human history, transforming one society after another, and today it has become established as an international system determining the economic fate of most of mankind.

F. A. Hayek is probably the most prominent advocate of capitalism in the present period.

If you say simply that pressures toward democracy are created by the market, I would say yes

Institutions provide procedures through which human conduct is patterned, compelled to go, in grooves deemed desirable by society. And this trick is performed by making these grooves appear to the individual as the only possible ones.

We also have a cultural phenomenon: the emergence of a global culture, or of cultural globalization

When certain branches of the economy become obsolete, as in the case of the steel industry, not only do jobs disappear, which is obviously a terrible social hardship, but certain cultures also disappear.