The market

Katherine Fierlbeck

in Globalizing Democracy

Published by Manchester University Press

Published in print August 2008 | ISBN: 9780719049958
Published online July 2012 | e-ISBN: 9781781701416 | DOI:
The market

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This chapter reports the debate surrounding economic liberalization that revolves primarily between those who believe that autonomous spheres of economic influence in authoritarian states can undermine the untrammelled exercise of political power (and thus serve to encourage democratization). Democratic rights and property ownership in England were closely linked. The causal link between the market and democratic government is relatively forceful to the extent that ‘democracy’ is understood as the establishment and protection of private property rights. Democracy requires the ability of individuals to participate in political processes. The close relationship between democracy and state autonomy is addressed. Democracy requires a certain degree of clear hierarchy for the principle of accountability to work. The market is commonly viewed as facilitating democracy by expanding the capacity of the state through increasing the wealth of the citizenry.

Keywords: market; economic liberalization; political power; democratization; democratic government; democracy; state autonomy; property rights; accountability

Chapter.  10553 words. 

Subjects: Politics

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