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Democracy and Diversity in Financial Market Regulation
by Nicholas DornFinancial markets have become acknowledged as a source of crisis, and discussion of them has shifted from economics, through legal and regulatory studies, to politics. Events from 2008 onwards raise important, cross-disciplinary questions: must financial markets drive states into political and existential crisis, must public finances take over private losses, must citizens endure austerity? This book argues that there is an alternative. If the financial system were less 'connected', contagion within the market would be reduced and crises would become more localised and intermittent, less global and pervasive. The question then becomes how to reduce connectedness within financial markets. This book argues that the democratic direction of financial market policies can deliver this. Politicising financial market policies – taking discussion of these issues out of the sphere of the 'technical' and putting it into the same democratically contested space as, for example, health and welfare policies – would encourage differing policies to emerge in different countries. Diversity of regulatory regimes would result in some business models being attracted to some jurisdictions, others to others. The resulting heterogeneity, when viewed from a global perspective, would be a reversal of recent and current tendencies towards one single/global 'level playing field', within which all financial firms and sectors have become closely connected and across which contagion inevitably reigns. No doubt the democratisation of financial market policy would be opposed by big firms – their interests being served by regulatory convergence – and considered macabre by some financial regulators and central bankers, who are coalescing into an elite community. However, everyone else, Nicholas Dorn argues here, would be better off in a financial world characterised by greater diversity.
Democracy and Economic Change in India
by George RosenThis title is part of UC Press's Voices Revived program, which commemorates University of California Press’s mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1966.
Democracy and Economic Openness in an Interconnected System
by Quan Li Rafael ReuvenyIn this book, Quan Li and Rafael Reuveny combine the social scientific approach with a broad, interdisciplinary scope to address some of the most intriguing and important political, economic, and environmental issues of our times. Their book employs formal and statistical methods to study the interactions of economic globalization, democratic governance, income inequality, economic development, military violence, and environmental degradation. In doing so, Li and Reuveny cross multiple disciplinary boundaries, engage various academic debates, bring the insights from compartmentalized bodies of literature into direct dialogue, and uncover policy tradeoffs in a growingly interconnected political-economic-environmental system. They show that growing interconnectedness in the global system increases the demands on national leaders and their advisors; academicians and policy makers will need to cross disciplinary boundaries if they seek to better understand and address the policy tradeoffs of even more complex processes than the ones investigated here.
Democracy and Efficiency in the Economic Enterprise (Routledge Studies in Business Organizations and Networks #Vol. 1)
by Ugo Pagano Robert RowthornThe collapse of central planning was hailed as evidence of the economic and moral superiority of capitalism over any possible alternative. The essays in this book challenge that claim. The case for more democratic forms of enterprise management is considered from a variety of viewpoints. One chapter deals with the philosophical justification for enterprise democracy. The remaining chapters are devoted to the question of efficiency, which has been central to economic debates about ownership and control. The orthodox belief amongst economists is that any shift to more democratic forms of enterprise control would be unworkable. The essays in this book provide a thorough theoretical and empirical critique of this orthodoxy.
Democracy and Financial Order: Legal Perspectives (Beiträge zum ausländischen öffentlichen Recht und Völkerrecht #273)
by Silvia Steininger Matthias GoldmannThis book discusses the relationship between democracy and the financial order from various legal perspectives. Each of the nine contributions adopts a unique perspective on the legal and political challenges brought to the fore by the Global Financial Crisis. This crisis and the ensuing sovereign debt crisis in Europe are only the latest in a long series of financial crises around the globe in recent decades. By their very existence, but also as a result of the political turmoil they have created, these financial crises testify to the well-known tensions between democracy and a market-based economic and financial order. However, what is missing in this debate is an analysis of the role of law for reconciling democracy with a market-based financial order. To fill this lacuna, the book focuses on the controversy surrounding the concept of law, thereby adding another variable to the debate on the relation between democracy and capitalism. Each chapter addresses the concept of law from a particular theoretical angle, be it a full-grown legal theory or an approach in political economy that has a particular view of the law.
Democracy and Globalization: Legal and Political Analysis on the Eve of the 4th Industrial Revolution (Economic Analysis of Law in European Legal Scholarship #10)
by Charlotte Sieber-Gasser Alberto GhibelliniThis book offers in-depth legal and political analysis concerning the compatibility of the Westphalian state model with globalization and the digital revolution. It explores the concept of democracy in a globalized world, discusses the legitimacy of economic integration in the global market, and presents three case studies (from Brazil, Taiwan and Spain) on the impact of social media on elections. It further entails novel perspectives on the impact of digitalization on national borders, and the role of citizens and experts in the shaping of globalization. A final chapter addresses the extent to which insights gained from the analysis of the abovementioned aspects will need to be considered in efforts to recover from the current global health and economic crisis.
Democracy and Governance for Resourcing the Commons: Theory and Practice on Rural-Urban Balance (Contemporary Systems Thinking)
by Yvonne Corcoran-Nantes Norma R. A. Romm Janet McIntyre-MillsThis book promotes the well-being of the commons through representation and accountability through monitoring from below in order to operationalize engagement. This book views the commons as a legal concept, a transformative governance concept, and a basis for systemic ethics. The chapters focus on practical responses to address complex problems that comprise many interrelated variables and are perceived differently by stakeholders with different values and life experiences. By considering these different stakeholders, the goal is to highlight ways to regenerate and invigorate employment opportunities. The book identifies pathways towards ethical vocational education to enable lifelong engagement by active citizens which requires action learning to address areas of perceived policy concern. Throughout the chapters in this book, the authors discuss transformative research and its implications on stakeholders. They focus on re-presentation and its implications for thinking and practice. One author makes the case for fostering non anthropocentric approaches to ethical development. In addition, the chapters cover case studies including governance challenges associated with water management using a mixed method approach and also production of mushrooms in collaboration with coffee growers in Jakarta. The book focuses on ways to de-colonialise knowledge formation in public policy and makes the case for an alternative approach to governance and democracy that takes into account a range of local people’s perspectives.
Democracy and Government in European Trade Unions (Routledge Library Editions: Trade Unions #5)
by Anthony CarewOriginally published in 1976, Democracy and Government in European Trade Unions is a detailed and practical examination of the organisational structure and internal control of trade unions in 8 Western European countries. It provides an introduction to the characteristics and styles of trade unionism in Europe. Written at a time when the international dimension of trade unionism had taken on a new significance, this comprehensive study explains and compares fundamental issues of union organisation and administration. The relationship between individual unions and the national confederations is described and the internal operation of unions in the engineering, textile and railway unions of the various countries examined. This guide to the ways and means of European trade unionism during the 1970s will be of interest to students of industrial relations and trade unionists.
Democracy and Its Crisis
by A. C. GraylingThe EU referendum in the UK and Trump&’s victory in the USA sent shockwaves through our democratic systems. In Democracy and Its Crisis A. C. Grayling investigates why the institutions of representative democracy seem unable to hold up against forces they were designed to manage, and why it matters. First he considers those moments in history when the challenges we face today were first encountered and what solutions were found. Then he lays bare the specific threats facing democracy today. The paperback edition includes new material on the reforms that are needed to make our system truly democratic.
Democracy and Money: Lessons for Today from Athens in Classical Times (Banking, Money and International Finance)
by George C. Bitros Nicholas C. Kyriazis Emmanouil M. EconomouThe authors of this book argue that post-war fiscal and monetary policies in the U.S. are prone to more frequent and more destabilizing domestic and international financial crises. So, in the aftermath of the one that erupted in 2008, they propose that now we are sleepwalking into another, which under the prevailing institutional circumstances could develop into a worldwide financial Armageddon. Thinking ahead of such a calamity, this book presents for the first time a model of democratic governance with privately produced money based on the case of Athens in Classical times, and explains why, if it is conceived as a benchmark for reference and adaptation, it may provide an effective way out from the dreadful predicament that state managed fiat money holds for the stability of Western-type democracies and the international financial system. As the U.S. today, Athens at that time reached the apex of its military, economic, political, cultural, and scientific influence in the world. But Athens triumphed through different approaches to democracy and fundamentally different fiscal and monetary policies than the U.S. Thus the readers will have the opportunity to learn about these differences and appreciate the potential they offer for confronting the challenges contemporary democracies face under the leadership of the U.S. The book will find audiences among academics, university students, and researchers across a wide range of fields and subfields, as well as legislators, fiscal and monetary policy makers, and economic and financial consultants.
Democracy And The Next American Economy: Where Prosperity Meets Justice
by Henry A. J. RamosProgressive intellectual Henry A. J. Ramos believes the United States is at a crossroads, facing the most challenging moment since the civil rights movement of the late 1960s and early 1970s. In fact, absent major new interventions and investments, he sees this moment as a pivotal turning point in the American journey in which political polarization, income and wealth disparity and public violence"€"much of which is race related"€"threaten the very essence and integrity of our democracy and economy. Ramos examines the policies that have contributed to America's decline, including those that have led to the concentration of great wealth in the hands of a few while condemning many to systemic poverty and inequality. Current economic and social trends, he stresses, are unsustainable and call for organized, concerted action by people of conscience and those affected. <P><P> Ultimately, Ramos provides a roadmap for the future so the United States can continue to provide opportunities for its people and serve again as a leader in the international community. He offers case studies of organizations that have successfully created and administered programs that further equity in society, restore democratic practices, implement better urban and city planning and protect the environment. <P><P> Demonstrating both the critical importance and real possibility of leveraging prosperity and justice for all Americans, this compelling work is a must-read for anyone interested in democracy, economic restoration and environmental sustainability.
Democracy and Prosperity: Reinventing Capitalism through a Turbulent Century
by Torben Iversen David SoskiceA groundbreaking new historical analysis of how global capitalism and advanced democracies mutually support each otherIt is a widespread view that democracy and the advanced nation-state are in crisis, weakened by globalization and undermined by global capitalism, in turn explaining rising inequality and mounting populism. This book, written by two of the world’s leading political economists, argues this view is wrong: advanced democracies are resilient, and their enduring historical relationship with capitalism has been mutually beneficial.For all the chaos and upheaval over the past century—major wars, economic crises, massive social change, and technological revolutions—Torben Iversen and David Soskice show how democratic states continuously reinvent their economies through massive public investment in research and education, by imposing competitive product markets and cooperation in the workplace, and by securing macroeconomic discipline as the preconditions for innovation and the promotion of the advanced sectors of the economy. Critically, this investment has generated vast numbers of well-paying jobs for the middle classes and their children, focusing the aims of aspirational families, and in turn providing electoral support for parties. Gains at the top have also been shared with the middle (though not the bottom) through a large welfare state.Contrary to the prevailing wisdom on globalization, advanced capitalism is neither footloose nor unconstrained: it thrives under democracy precisely because it cannot subvert it. Populism, inequality, and poverty are indeed great scourges of our time, but these are failures of democracy and must be solved by democracy.
Democracy and Public Administration
by Richard C BoxThe true measure of the successful practice of public service is its ability to remain faithful to the tenets of democratic society. This introductory text links the practice of public administration to the core concepts of American democracy. It covers the nuts and bolts of public administration in the context of "delivering democracy" in public service - providing what the public really wants as opposed to what self-serving bureaucracies may call for. Chapters in "Democracy and Public Administration" discuss the functional topics covered in other texts, but from the perspective of this democratic ideal. Each chapter is written by an expert in the area, and summarizes previous research in the area, presents the author's research and thought, and offers ways in which practitioners can apply the concepts discussed to their daily work.
Democracy and Public-Private Partnerships in Global Governance
by Ulrika Mörth Magdalena BexellThere has been rapid proliferation of public-private partnerships in areas of human rights, environmental protection and development in global governance. This book demonstrates how different forms of partnership legitimacy and accountability interact, and pinpoints trade-offs between democratic values in partnership operations.
Democracy And Redistribution (Cambridge Studies In Comparative Politics Ser.)
by Robert H. Bates Ellen Comisso Peter Lange Joel Migdal Helen Milner Carles Boix Martin KleinEmploying analytical tools borrowed from game theory, Carles Boix offers a complete theory of political transitions. It is one in which political regimes ultimately depend on the nature of economic assets, their distribution among individuals, and the balance of power among different social groups. Backed by detailed historical research and extensive statistical analysis from the mid-nineteenth century, the study reveals why democracy emerged in classical Athens. It also covers the early triumph of democracy in nineteenth-century agrarian Norway, Switzerland and northeastern America as well as its failure in countries with a powerful landowning class.
Democracy and Reforms: Evidence from a New Dataset*
by Paola Giuliano Prachi Mishra Antonio SpilimbergoA report from the International Monetary Fund.
Democracy and Salamis: 2500 Years After the Battle That Saved Greece and the Western World
by Emmanouil M. L. Economou Nicholas C. Kyriazis Athanasios PlatiasIn this book, well-renowned international scholars discuss topics related to various aspects of the history of the Battle of Salamis, inspired by the democratic origins of the Greek naval victory at Salamis. They present deductions from the battle that can be useful for today, and seek answers for a more prosperous and brighter future for our societies. Their analyses are divided into five parts in the book: 1) The democratic implications of the Battle of Salamis; 2) The strategies that lead to monumental naval victories; 3) The institutional implications of the Battle of Salamis; 4) Various societal aspects of the Athenian democracy; 5) The interconnections between two glorious battles: Thermopylae and Salamis. This book is the first out of two edited volumes as a sequel of an international academic conference titled Salamis and Democracy: 2500 Years After that took place between October 3rd and October 5th, 2020, on the occasion of the 2500th anniversary of the great historical event of the Battle of Salamis, which saved Greek culture and the newly founded democratic regimes throughout the Hellenic world during the Classical period (508-323 BCE). The book is a must-read for scholars and students of history, political science, economics, and law, as well as policy-makers interested in a better understanding of classical, ancient, and political history, democracy, strategy, governance, and social choice.
Democracy and the Economy in Finland and Sweden since 1960: A Nordic Perspective on Neoliberalism (Palgrave Studies in Political History)
by Ilkka KärryläThis book explores the relationship between democracy and the economy in contemporary political thought and policy-making. Using the concepts of economic, industrial and enterprise democracy, the author focuses on the history of Finland and Sweden during the latter part of the twentieth century. The three concepts are discussed in relation to various political groups, such as social democrats, conservatives and liberals, and the reforms that they were associated with, painting a picture of changing economic thought in the Nordic countries, and the West more generally. Arguing that the concept of democracy has evolved from representative parliamentary democracy towards ‘participation’ in civil society, this book demonstrates how the ideal of individual freedom and choice has surpassed collective decision-making. These shared characteristics between Finland, Sweden and other Western countries challenge the view that the Nordic countries have been exceptional in resisting neoliberalism. In fact, as this book shows, neoliberalism has been influential to the Nordics since the 1970s. Offering an innovative and conceptual perspective on European political history, this book will appeal to scholars interested in Nordic political history and modern European history more generally.
Democracy and the Korean Economy
by Jongryn Mo Chung-In MoonSouth Korea has been one of the great success stories of postwar economic development, rising from one of the poorest nations on earth in the 1960s to become the world's eleventh-largest economy by 1996. But Korea's model of economic development began to unravel in 1987. When the authoritarian rule that helped propel economic performance gave way to increasing public pressure for democracy, the Korean economy was confronted with fundamental transformations. With democracy came increasing consumption, labor activism, and rising wages. Yet many of the old policies of the export-oriented, pro-business authoritarian rule remained in place. The complex and multifaceted economic effects brought about by democratic change have defied analysis—until now. Democracy and the Korean Economy is an authoritative study of the new model of Korean political economy and the first book to analyze the economic impact of democratic change in South Korea. In addition to analyzing patterns of change in major policy areas, authors Jongryn Mo and Chung-in Moon closely examine specific industries—such as automobiles—and the family-controlled industrial conglomerates known as chaebols to analyze their market positions and political influence under both the authoritarian and democratic regimes. They show how conflicts in key policy areas have evolved, identify the political and economic factors that have been important to resolving those conflicts, and reveal the wide range of effects, both subtle and significant, of democratization on the Korean economy and on its economic policy.
Democracy and the Left: Social Policy and Inequality in Latin America
by Evelyne Huber John D. StephensAlthough inequality in Latin America ranks among the worst in the world, it has notably declined over the last decade, offset by improvements in health care and education, enhanced programs for social assistance, and increases in the minimum wage. In Democracy and the Left, Evelyne Huber and John D. Stephens argue that the resurgence of democracy in Latin America is key to this change. In addition to directly affecting public policy, democratic institutions enable left-leaning political parties to emerge, significantly influencing the allocation of social spending on poverty and inequality. But while democracy is an important determinant of redistributive change, it is by no means the only factor. Drawing on a wealth of data, Huber and Stephens present quantitative analyses of eighteen countries and comparative historical analyses of the five most advanced social policy regimes in Latin America, showing how international power structures have influenced the direction of their social policy. They augment these analyses by comparing them to the development of social policy in democratic Portugal and Spain. The most ambitious examination of the development of social policy in Latin America to date, Democracy and the Left shows that inequality is far from intractable-a finding with crucial policy implications worldwide.
Democracy and the Market: Political and Economic Reforms in Eastern Europe and Latin America
by Jon Elster Adam Przeworski Gudmund HernesThe quest for freedom from hunger and repression has triggered in recent years a worldwide movement toward political democracy and economic rationality. Never have so many people experimented with democratic institutions. At the same time, traditional strategies of economic development have collapsed in Eastern Europe and Latin America and entire economic systems are being transformed on both continents. What should we expect in the countries that venture on the paths to democracy and markets? Will these transitions result in democracies or in new dictatorships? What economic system, new or old, will emerge? This major book analyzes recent events in Eastern Europe and Latin America, focusing on transitions to democracy and market-oriented economic reforms. The author underscores the interdependence of political and economic transformations and draws on extensive local data as part of his analysis. A distinctive feature of the book is that it employs models derived from politics, economics, and game theory. This book will be of particular interest to scholars and graduate students in political science and sociology.
Democracy and Trade Policy in Developing Countries
by Bumba MukherjeeSince the 1970s, two major trends have emerged among developing countries: the rise of new democracies and the rush to free trade. For some, the confluence of these events suggests that a free-market economy complements a fledgling democracy. Others argue that the two are inherently incompatible and that exposure to economic globalization actually jeopardizes new democracies. Which view is correct? Bumba Mukherjee argues that the reality of how democracy and trade policy unravel in developing countries is more nuanced than either account. Mukherjee offers the first comprehensive cross-national framework for identifying the specific economic conditions that influence trade policy in developing countries. Laying out the causes of variation in trade policy in four developing or recently developed countries--Brazil, India, Indonesia, and South Africa--he argues persuasively that changing political interactions among parties, party leaders, and the labor market are often key to trade policy outcome. For instance, if workers are in a position to benefit from opening up to trade, party leaders in turn support trade reforms by decreasing tariffs and other trade barriers. At a time when discussions about the stability of new democracies are at the forefront, Democracy and Trade Policy in Developing Countries provides invaluable insight into the conditions needed for a democracy to survive in the developing world in the context of globalization.
Democracy and Women's Rights in America: The Fight over the ERA
by David A. Moss Dean Grodzins Amy Smekar Marc Campasano Rachel WilfOn the afternoon of June 21, 1982, the Florida Senate prepared to vote on whether to ratify the proposed Equal Rights Amendment (ERA) to the U.S. Constitution, which stated that "Equality of Rights under the law shall not be denied or abridged by the United States or by any State on account of sex." Supporters believed the ERA was essential to winning equal rights for women. Opponents claimed that the proposed amendment would dangerously expand federal power over the states, remove needed protections for women, and undermine the American family. When Congress had sent the ERA to the states for ratification, in March 1972, it had done so through a joint resolution stipulating that state legislatures had to ratify it within seven years. As the deadline neared, however, only 35 of the requisite 38 states had voted to ratify the amendment, four of which later voted to rescind ratification, though ERA supporters questioned the constitutionality of rescission. In October 1978, Congress extended the ratification deadline to June 30, 1982, a move that ERA opponents denounced as unconstitutional. Over the next several years, one more state voted to rescind, and no new states ratified. In 1982, ERA supporters made a final push for ratification. That June, the governor of Florida, an ERA supporter, called the state legislature into special session to consider, among other issues, approval of the ERA. If Florida ratified, supporters hoped that Illinois and either Oklahoma or North Carolina would quickly follow. On June 21, thousands of demonstrators, both for and against the amendment, converged on the state capitol in Tallahassee. That morning, the Florida House voted in favor of the ERA, 60 to 58. Now it was up to the Florida Senate to decide whether to ratify the amendment or to kill it.
Democracy as Creative Practice: Weaving a Culture of Civic Life (ISSN)
by Tom Borrup Andrew ZitcerDemocracy as Creative Practice: Weaving a Culture of Civic Life offers arts-based solutions to the threats to democracies around the world, practices that can foster more just and equitable societies. Chapter authors are artists, activists, curators, and teachers applying creative and cultural practices in deliberate efforts to build democratic ways of working and interacting in their communities in a range of countries including the United States, Australia, Portugal, Nepal, the United Kingdom, and Canada. The book demonstrates how creativity is integrated in place-based actions, aesthetic strategies, learning environments, and civic processes. As long-time champions and observers of community-based creative and cultural practices, editors Tom Borrup and Andrew Zitcer elucidate work that not only responds to sociopolitical conditions but advances practice. They call on artists, funders, cultural organizations, community groups, educational institutions, government, and others to engage in and support this work that fosters a culture of democracy.This book is intended for undergraduate and graduate students in the humanities and social sciences, activists, funders, and artists who seek to understand and effect change on local and global scales to preserve, extend, and improve practices of democracy.
Democracy at Work: Contract, Status and Post-Industrial Justice
by Ruth Dukes Wolfgang StreeckIn the countries of the global north, workplace democracy may be thought of as a thing of the past. Today, working relations are regulated primarily by contract; workforces are increasingly fissured and fragmented. What are the consequences of this? How should we respond? Ruth Dukes and Wolfgang Streeck argue that the time is ripe to restate the principles of industrial democracy and citizenship for the post-industrial era. Considering developments within political economy, employment relations and labour law since the postwar decades, they trace the rise of globalization and the &“dualisation&” of labour markets - the emergence of a core and periphery of workers - and the progressive insulation of working relations from democratic governance. What these developments amount to, they argue, is an urgent need for political intervention to tame the new world of &“gigging&” and other forms of highly precarious work. This, according to the authors, will require far-reaching institution-building, designed to fill legal concepts such as &“employment&” with political substance. This eloquent call for a reimagining and renewal of the institutional and material conditions of freedom of association and the reinvention of industrial democracy will be crucial reading for anyone interested in work in the 21st century.