Ruser, Alexander, (2015), “Saving the euro at all costs could lead to the hollowing out of European democracy”, LSE blog, 15 Αυγούστου
Abraham Lincoln defined democracy as government of the people, by the people, for the people. Markets, however, he chose not to mention at all. It may be that Mr Lincoln was dealing with an idealistic, out-dated definition of democracy.A brief look at the recent discussion about the viability of democracies in global market economies, in particular since the financial crisis, reveals two problems: democratic decision-making is either seen as the main driver of public debt, or rendered irrelevant given the firm grip of the global invisible hand. Sometimes, commentators even try to have it both ways.
- Stiglitz, Joseph, (2015), “Europe’s Attack on Greek Democracy”, Project Syndicate, 29 Ιουνίου
- Hansen, R. & Gordon, J. C., (2014), “Deficits, Democracy and Demographics: Europe’s Three Crises”,West European Politics, Vol. 37, Issue 6, pp. 1199-1222.