The link between democracy and capitalism occupies a prominent place in political theory and in the political and social history of the 19th and 20th centuries. This essay will analyze the relationship between democracy, which is liberal democracy, and capitalism during the second half of the 20th century and the first decades of the 21st, particularly in two great “moments”: the social democratic moment (1945-1975) and the neoliberal moment (1978-2022). During the social democratic moment, democracy coexisted in post-war Europe with the so-called “golden age of capitalism.” In the neoliberal moment, in contrast, the democratic regime coexisted and continues to coexist practically on a planetary level - not without difficulties, tensions and authoritarian regressions - with a savage version of capitalism.