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Democracy against Domination (Hardcover)
Loot Price: R2,985
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Democracy against Domination (Hardcover)
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In 2008, the collapse of the US financial system plunged the
economy into the worst economic downturn since the Great
Depression. In its aftermath, the financial crisis pushed to the
forefront fundamental moral and institutional questions about how
we govern the modern economy. What are the values that economic
policy ought to prioritize? What institutions do we trust to govern
complex economic dynamics? Much of popular and academic debate
revolves around two competing approaches to these fundamental
questions: laissez-faire defenses of self-correcting and
welfare-enhancing markets on the one hand, and managerialist turns
to the role of insulated, expert regulation in mitigating risks and
promoting growth on the other. In Democracy Against Domination, K.
Sabeel Rahman offers an alternative vision for how we should govern
the modern economy in a democratic society. Drawing on a rich
tradition of economic reform rooted in the thought and reform
politics of early twentieth century progressives like John Dewey
and Louis Brandeis, Rahman argues that the fundamental moral
challenge of economic governance today is two-fold: first, to
counteract the threats of economic domination whether in the form
of corporate power or inequitable markets; and second, to do so by
expanding the capacity of citizens themselves to exercise real
political power in economic policymaking. This normative framework
in turn suggests a very different way of understanding and
addressing major economic governance issues of the post-crisis era,
from the challenge of too-big-to-fail financial firms, to the
dangers of regulatory capture and regulatory reform. Synthesizing a
range of insights from history to political theory to public
policy, Democracy Against Domination offers an exciting
reinterpretation of progressive economic thought; a fresh normative
approach to democratic theory; and an urgent hope for realizing a
more equitable and democratically accountable economy through
practical reforms in our policies and regulatory institutions.
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