To me, at a theoretical level, there is no essential connection (and indeed a tension or possible conflict) between 'capitalism' and democracy in Friedman and other strong 'laissez-faire' economist: the Friedmanites favor 'free markets,' private property rights, etc., and they favor those things regardless of the democratic wishes of the people. Conversely, democrats (admittedly, there is also a wide range here) favor the right to vote, the right to free speech & assembly, and then the rule of the people -- by a majority. So democrats would be willing to modify Friedmanite markets and property rights (e.g., they'd be willing to tax or to regulate) in order to produce social results, such as health care, education, etc., and to protect individuals (and, apparently, capitalism) by e.g. regulating the terms under which mortgages can be granted . . . . Peter G. Stillman