Market Democracy
Market Democracy
This chapter examines market democracy, a hybrid approach to liberal theory building that combines a concern for private individual economic liberty with a commitment to social justice. As such, market democracy offers an alternative to both classical liberalism and to high liberalism. After explaining exactly what market democracy is, the chapter considers its conceptual space. In particular, it explores why market democracy asserts that economic freedoms should be treated as basic but not absolute, and why it thus allows taxation in support of a limited range of social service programs. The chapter then compares the views espoused by advocates of libertarianism, classical liberalism, and modern or high liberalism. It also looks at market democracy as a research program, its institutional requirements, and the challenges that it faces from both the left and from the right.
Keywords: market democracy, liberal theory, economic liberty, social justice, classical liberalism, high liberalism, economic freedom, taxation, social service programs, libertarianism
Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.
