How Should We Think About Democracy?

Samuel Bagg—

The concept of democracy is critical to the Law and Political Economy approach, yet its precise meaning is not always clear. On the left, “democracy” often functions as shorthand for the opposite of whatever has most recently earned our wrath: be it oligarchy or neoliberalism, marketization or regulatory capture, technocracy or inequality. Even when the culprit seems to be democracy itself—as per the adage penned by Jane Addams—the solution is still more democracy. But what might this ambiguous demand really mean? This post surveys developments in my own field—democratic theory—in hopes of sharpening LPE thinking about this question. Continue reading