The purpose of this book is to reconsider economic liberalism from
the viewpoint of political liberalism. The author argues that
advocates of economic liberalism largely overlook empirical
political preferences which, in many societies, go far beyond a
limited role of the state. Recent difficulties of reforming the
welfare state provide evidence that political preferences are at
odds with liberal economic policy in numerous cases. This fact
challenges a political conception which demands a limited state
role but also claims that citizens' preferences 'as they are'
should determine the content of policies. Using an evolutionary
perspective on economic liberalism, the book develops new arguments
about how economic liberalism can be brought into line with
political liberalism. Drawing on an evolutionary theory of markets,
Gerhard Wegner reinforces the claim that liberal economic policies
are conducive to prosperity in society, but he argues that the
liberal promise of prosperity does not translate into corresponding
political preferences on the part of citizens. A tension between
political and economic liberalism arises which lies at the centre
of this book. Political Failure by Agreement will strongly appeal
to postgraduate students and researchers of global governance,
political theory, political economy and institutional economics.
General
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