Democracy and Financial Order: Legal Perspectives

Democracy and Financial Order: Legal Perspectives

Author: Matthias Goldmann

Publisher: Springer

Published: 2018-05-17

Total Pages: 230

ISBN-13: 3662555689

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This 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.


Book Synopsis Democracy and Financial Order: Legal Perspectives by : Matthias Goldmann

Download or read book Democracy and Financial Order: Legal Perspectives written by Matthias Goldmann and published by Springer. This book was released on 2018-05-17 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 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.

Statecrafting Monetary Authority

Statecrafting Monetary Authority

Author: Lourdes Sola

Publisher: Centre for Brazilian Studies

Published: 2006

Total Pages: 400

ISBN-13:

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Banking and finance are often studied as specialized domains, governed by their own esoteric rules and concepts, and best cordoned off from broader comparative, historical and political considerations. This book develops an alternative approach. It focuses on the recent, strikingly deviant, experience of Brazil but goes well beyond that single case. It assesses financial sector reform and the consolidation of legitimate monetary authority in an era of globalization and democratization, and advocates the adoption of a holistic and contextualized perspective. It explores the cumulative potential of an incremental 'statecrafting' approach, in contrast to recently fashionable technical 'fixes' such as the idea that central bank independence provides a reliable and universal remedy for all monetary ills.


Book Synopsis Statecrafting Monetary Authority by : Lourdes Sola

Download or read book Statecrafting Monetary Authority written by Lourdes Sola and published by Centre for Brazilian Studies. This book was released on 2006 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking and finance are often studied as specialized domains, governed by their own esoteric rules and concepts, and best cordoned off from broader comparative, historical and political considerations. This book develops an alternative approach. It focuses on the recent, strikingly deviant, experience of Brazil but goes well beyond that single case. It assesses financial sector reform and the consolidation of legitimate monetary authority in an era of globalization and democratization, and advocates the adoption of a holistic and contextualized perspective. It explores the cumulative potential of an incremental 'statecrafting' approach, in contrast to recently fashionable technical 'fixes' such as the idea that central bank independence provides a reliable and universal remedy for all monetary ills.

Democracy and Financial Order

Democracy and Financial Order

Author: Matthias Goldmann

Publisher:

Published: 2016

Total Pages: 204

ISBN-13:

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This special issue assembles eight articles on the relationship between democracy and the financial order from various legal perspectives. Each article engages with 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. We have arranged the special issue in order to reflect certain debates. Thus, the special issue begins with a debate between two contemporary German theories of law by Jürgen Habermas (Goldmann and Steininger) and Niklas Luhmann (Viellechner). Next is a transatlantic debate between rational choice conceptions of law (Towfigh) and ideas of constitutional pluralism (Avbelj). Different traditions of mostly Anglo-Saxon liberalism are reflected in the contribution by Suttle. Eventually, three contributions engage with conceptions of law in neoliberalism and ordoliberalism and the way they have shaped our perceptions of public finance, including budgetary rules, taxes, and money (Biebricher, Saffie, Feichtner).To connect theory with life, each contribution elaborates its salient theoretical points by using an example of a particular case study or issue area that faces challenges in the aftermath of the financial crisis. Thus, while all articles address the law's capacity to accommodate both democracy and capitalism, each individually contributes to the development of law and policy in a particular issue area. Topics range from sovereign debt issues (Goldmann and Steininger, Viellechner, Suttle) to budgetary restrictions (Biebricher), banking regulation (Avbelj), money and the ECB (Towfigh and Feichtner), and taxes (Saffie).


Book Synopsis Democracy and Financial Order by : Matthias Goldmann

Download or read book Democracy and Financial Order written by Matthias Goldmann and published by . This book was released on 2016 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This special issue assembles eight articles on the relationship between democracy and the financial order from various legal perspectives. Each article engages with 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. We have arranged the special issue in order to reflect certain debates. Thus, the special issue begins with a debate between two contemporary German theories of law by Jürgen Habermas (Goldmann and Steininger) and Niklas Luhmann (Viellechner). Next is a transatlantic debate between rational choice conceptions of law (Towfigh) and ideas of constitutional pluralism (Avbelj). Different traditions of mostly Anglo-Saxon liberalism are reflected in the contribution by Suttle. Eventually, three contributions engage with conceptions of law in neoliberalism and ordoliberalism and the way they have shaped our perceptions of public finance, including budgetary rules, taxes, and money (Biebricher, Saffie, Feichtner).To connect theory with life, each contribution elaborates its salient theoretical points by using an example of a particular case study or issue area that faces challenges in the aftermath of the financial crisis. Thus, while all articles address the law's capacity to accommodate both democracy and capitalism, each individually contributes to the development of law and policy in a particular issue area. Topics range from sovereign debt issues (Goldmann and Steininger, Viellechner, Suttle) to budgetary restrictions (Biebricher), banking regulation (Avbelj), money and the ECB (Towfigh and Feichtner), and taxes (Saffie).

Government and Markets

Government and Markets

Author: H.J. Blommestein

Publisher: Springer Science & Business Media

Published: 2013-04-18

Total Pages: 326

ISBN-13: 9401583668

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Government and Markets is the first book to tackle systematically and in a multidisciplinary fashion the role of democratic governments during and after the transition from plan to market. The role of governments during the transformation is important for eliminating the obstacles and putting into place the conditions for the emergence of a viable market economy. Moreover, governments need to play a key role in establishing a political-legal order that promotes political liberties and economic freedom. In contrast to other literature on the transformation process in formerly planned systems, this volume focuses also on the creation of autonomous and accountable governments as part of the liberal economic order. Finally, the volume analyzes the role of the legal state in creating a competitive market economy. Government and Markets addresses itself to scholars, politicians policy makers interested in the establishment of a democratic, competitive order in formerly planned political economic systems.


Book Synopsis Government and Markets by : H.J. Blommestein

Download or read book Government and Markets written by H.J. Blommestein and published by Springer Science & Business Media. This book was released on 2013-04-18 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government and Markets is the first book to tackle systematically and in a multidisciplinary fashion the role of democratic governments during and after the transition from plan to market. The role of governments during the transformation is important for eliminating the obstacles and putting into place the conditions for the emergence of a viable market economy. Moreover, governments need to play a key role in establishing a political-legal order that promotes political liberties and economic freedom. In contrast to other literature on the transformation process in formerly planned systems, this volume focuses also on the creation of autonomous and accountable governments as part of the liberal economic order. Finally, the volume analyzes the role of the legal state in creating a competitive market economy. Government and Markets addresses itself to scholars, politicians policy makers interested in the establishment of a democratic, competitive order in formerly planned political economic systems.

Democracy Declined

Democracy Declined

Author: Mallory E. SoRelle

Publisher: University of Chicago Press

Published: 2020-12-14

Total Pages: 302

ISBN-13: 022671182X

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As Elizabeth Warren memorably wrote, “It is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house. But it is possible to refinance an existing home with a mortgage that has the same one-in-five chance of putting the family out on the street.” More than a century after the government embraced credit to fuel the American economy, consumer financial protections in the increasingly complex financial system still place the onus on individuals to sift through fine print for assurance that they are not vulnerable to predatory lending and other pitfalls of consumer financing and growing debt. In Democracy Declined, Mallory E. SoRelle argues that the failure of federal policy makers to curb risky practices can be explained by the evolution of consumer finance policies aimed at encouraging easy credit in part by foregoing more stringent regulation. Furthermore, SoRelle explains how angry borrowers’ experiences with these policies teach them to focus their attention primarily on banks and lenders instead of demanding that lawmakers address predatory behavior. As a result, advocacy groups have been mostly unsuccessful in mobilizing borrowers in support of stronger consumer financial protections. The absence of safeguards on consumer financing is particularly dangerous because the consequences extend well beyond harm to individuals—they threaten the stability of entire economies. SoRelle identifies pathways to mitigate these potentially disastrous consequences through greater public participation.


Book Synopsis Democracy Declined by : Mallory E. SoRelle

Download or read book Democracy Declined written by Mallory E. SoRelle and published by University of Chicago Press. This book was released on 2020-12-14 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Elizabeth Warren memorably wrote, “It is impossible to buy a toaster that has a one-in-five chance of bursting into flames and burning down your house. But it is possible to refinance an existing home with a mortgage that has the same one-in-five chance of putting the family out on the street.” More than a century after the government embraced credit to fuel the American economy, consumer financial protections in the increasingly complex financial system still place the onus on individuals to sift through fine print for assurance that they are not vulnerable to predatory lending and other pitfalls of consumer financing and growing debt. In Democracy Declined, Mallory E. SoRelle argues that the failure of federal policy makers to curb risky practices can be explained by the evolution of consumer finance policies aimed at encouraging easy credit in part by foregoing more stringent regulation. Furthermore, SoRelle explains how angry borrowers’ experiences with these policies teach them to focus their attention primarily on banks and lenders instead of demanding that lawmakers address predatory behavior. As a result, advocacy groups have been mostly unsuccessful in mobilizing borrowers in support of stronger consumer financial protections. The absence of safeguards on consumer financing is particularly dangerous because the consequences extend well beyond harm to individuals—they threaten the stability of entire economies. SoRelle identifies pathways to mitigate these potentially disastrous consequences through greater public participation.

A Discourse Theoretical Approach to Sovereign Debt Restructuring

A Discourse Theoretical Approach to Sovereign Debt Restructuring

Author: Matthias Goldmann

Publisher:

Published: 2016

Total Pages: 0

ISBN-13:

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In this paper, we study the role of law for squaring democracy with a market-based financial order. We approach this issue on the basis of Jürgen Habermas' discourse theoretical understanding of the role of law in the welfare state. Accordingly, law needs to be enforceable; law-making and law-application need to be institutionally separated; and public law needs to be distinguishable from private law. The contemporary practice of sovereign debt restructuring reveals some empirical and normative challenges to this understanding of the law. These findings inform our proposals for conceptual and institutional improvements that might lead to a more harmonious relation between democracy and financial order. In particular, we argue that a discourse theoretical understanding should tap on the legitimating potential of existing transnational discourses that are characterized by cross-border cleavages in public discourse.


Book Synopsis A Discourse Theoretical Approach to Sovereign Debt Restructuring by : Matthias Goldmann

Download or read book A Discourse Theoretical Approach to Sovereign Debt Restructuring written by Matthias Goldmann and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we study the role of law for squaring democracy with a market-based financial order. We approach this issue on the basis of Jürgen Habermas' discourse theoretical understanding of the role of law in the welfare state. Accordingly, law needs to be enforceable; law-making and law-application need to be institutionally separated; and public law needs to be distinguishable from private law. The contemporary practice of sovereign debt restructuring reveals some empirical and normative challenges to this understanding of the law. These findings inform our proposals for conceptual and institutional improvements that might lead to a more harmonious relation between democracy and financial order. In particular, we argue that a discourse theoretical understanding should tap on the legitimating potential of existing transnational discourses that are characterized by cross-border cleavages in public discourse.

Debt Or Democracy

Debt Or Democracy

Author: Mary Mellor

Publisher: Pluto Press (UK)

Published: 2016

Total Pages: 0

ISBN-13: 9780745335551

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A clear case for the common ownership of money as a solution to the financial crisis


Book Synopsis Debt Or Democracy by : Mary Mellor

Download or read book Debt Or Democracy written by Mary Mellor and published by Pluto Press (UK). This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A clear case for the common ownership of money as a solution to the financial crisis

Economic Origins of Dictatorship and Democracy

Economic Origins of Dictatorship and Democracy

Author: Daron Acemoglu

Publisher: Cambridge University Press

Published: 2006

Total Pages: 444

ISBN-13: 9780521855266

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This book develops a framework for analyzing the creation and consolidation of democracy. Different social groups prefer different political institutions because of the way they allocate political power and resources. Thus democracy is preferred by the majority of citizens, but opposed by elites. Dictatorship nevertheless is not stable when citizens can threaten social disorder and revolution. In response, when the costs of repression are sufficiently high and promises of concessions are not credible, elites may be forced to create democracy. By democratizing, elites credibly transfer political power to the citizens, ensuring social stability. Democracy consolidates when elites do not have strong incentive to overthrow it. These processes depend on (1) the strength of civil society, (2) the structure of political institutions, (3) the nature of political and economic crises, (4) the level of economic inequality, (5) the structure of the economy, and (6) the form and extent of globalization.


Book Synopsis Economic Origins of Dictatorship and Democracy by : Daron Acemoglu

Download or read book Economic Origins of Dictatorship and Democracy written by Daron Acemoglu and published by Cambridge University Press. This book was released on 2006 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book develops a framework for analyzing the creation and consolidation of democracy. Different social groups prefer different political institutions because of the way they allocate political power and resources. Thus democracy is preferred by the majority of citizens, but opposed by elites. Dictatorship nevertheless is not stable when citizens can threaten social disorder and revolution. In response, when the costs of repression are sufficiently high and promises of concessions are not credible, elites may be forced to create democracy. By democratizing, elites credibly transfer political power to the citizens, ensuring social stability. Democracy consolidates when elites do not have strong incentive to overthrow it. These processes depend on (1) the strength of civil society, (2) the structure of political institutions, (3) the nature of political and economic crises, (4) the level of economic inequality, (5) the structure of the economy, and (6) the form and extent of globalization.

Law and the Wealth of Nations

Law and the Wealth of Nations

Author: Tamara Lothian

Publisher: Columbia University Press

Published: 2019-12-03

Total Pages: 416

ISBN-13: 9780231174671

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Tamara Lothian shows a path to the reconstruction of the economy in the service of both growth and inclusion that would reignite economic growth by democratizing the market. Law and the Wealth of Nations offers a progressive approach to the supply side of the economy and proposes innovation in our fundamental economic arrangements.


Book Synopsis Law and the Wealth of Nations by : Tamara Lothian

Download or read book Law and the Wealth of Nations written by Tamara Lothian and published by Columbia University Press. This book was released on 2019-12-03 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tamara Lothian shows a path to the reconstruction of the economy in the service of both growth and inclusion that would reignite economic growth by democratizing the market. Law and the Wealth of Nations offers a progressive approach to the supply side of the economy and proposes innovation in our fundamental economic arrangements.

Political Order and Political Decay

Political Order and Political Decay

Author: Francis Fukuyama

Publisher: Farrar, Straus and Giroux

Published: 2014-09-30

Total Pages: 672

ISBN-13: 1429944323

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The second volume of the bestselling landmark work on the history of the modern state Writing in The Wall Street Journal, David Gress called Francis Fukuyama's Origins of Political Order "magisterial in its learning and admirably immodest in its ambition." In The New York Times Book Review, Michael Lind described the book as "a major achievement by one of the leading public intellectuals of our time." And in The Washington Post, Gerard DeGrott exclaimed "this is a book that will be remembered. Bring on volume two." Volume two is finally here, completing the most important work of political thought in at least a generation. Taking up the essential question of how societies develop strong, impersonal, and accountable political institutions, Fukuyama follows the story from the French Revolution to the so-called Arab Spring and the deep dysfunctions of contemporary American politics. He examines the effects of corruption on governance, and why some societies have been successful at rooting it out. He explores the different legacies of colonialism in Latin America, Africa, and Asia, and offers a clear-eyed account of why some regions have thrived and developed more quickly than others. And he boldly reckons with the future of democracy in the face of a rising global middle class and entrenched political paralysis in the West. A sweeping, masterful account of the struggle to create a well-functioning modern state, Political Order and Political Decay is destined to be a classic.


Book Synopsis Political Order and Political Decay by : Francis Fukuyama

Download or read book Political Order and Political Decay written by Francis Fukuyama and published by Farrar, Straus and Giroux. This book was released on 2014-09-30 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second volume of the bestselling landmark work on the history of the modern state Writing in The Wall Street Journal, David Gress called Francis Fukuyama's Origins of Political Order "magisterial in its learning and admirably immodest in its ambition." In The New York Times Book Review, Michael Lind described the book as "a major achievement by one of the leading public intellectuals of our time." And in The Washington Post, Gerard DeGrott exclaimed "this is a book that will be remembered. Bring on volume two." Volume two is finally here, completing the most important work of political thought in at least a generation. Taking up the essential question of how societies develop strong, impersonal, and accountable political institutions, Fukuyama follows the story from the French Revolution to the so-called Arab Spring and the deep dysfunctions of contemporary American politics. He examines the effects of corruption on governance, and why some societies have been successful at rooting it out. He explores the different legacies of colonialism in Latin America, Africa, and Asia, and offers a clear-eyed account of why some regions have thrived and developed more quickly than others. And he boldly reckons with the future of democracy in the face of a rising global middle class and entrenched political paralysis in the West. A sweeping, masterful account of the struggle to create a well-functioning modern state, Political Order and Political Decay is destined to be a classic.