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The Logic of Globalization and Substantive Democracy

Author

Listed:
  • Manuel Couret Branco

    (Department of Economics, University of Évora)

Abstract
Despite some notable achievements in many parts of the planet the gap between the rich and the poor has become wider rather than tighter. On the political sphere success seems much more unequivocal, though. Indeed, beyond a handful of anachronistic exceptions, the world seems to have surrendered to the delights of democracy. From there to the conclusion that globalization favours democracy there was a small step that many political scientists all over the world have not hesitated to make. Refusing to share this optimism, many other scientists have, on the contrary, severely questioned the democratic character of the global economy, almost since the term globalization itself has been invented. In this work I will show how the logic of globalisation, in other words the logic of internationalised market capitalism conflicts with a substantive definition of democracy in developed countries as much as in developing countries.

Suggested Citation

  • Manuel Couret Branco, 2007. "The Logic of Globalization and Substantive Democracy," Economics Working Papers 01_2007, University of Évora, Department of Economics (Portugal).
    • Handle: RePEc:evo:wpecon:01_2007
    as

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    File URL: http://hdl.handle.net/10174/8451
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    References listed on IDEAS

    as
    1. Maurice Obstfeld, 1998. "The Global Capital Market: Benefactor or Menace?," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 9-30, Fall.
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    5. Acemoglu, Daron & Johnson, Simon & Robinson, James A., 2002. "An African Success Story: Botswana," CEPR Discussion Papers 3219, C.E.P.R. Discussion Papers.
    6. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "The Colonial Origins of Comparative Development: An Empirical Investigation," American Economic Review, American Economic Association, vol. 91(5), pages 1369-1401, December.
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    Citations

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    Cited by:

    1. Manuel Couret Pereira Branco, 2008. "Underdevelopment and Democratization in Africa," CEFAGE-UE Working Papers 2008_06, University of Evora, CEFAGE-UE (Portugal).

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    More about this item

    Keywords

    Globalisation; Democracy; Capitalism; Development; Underdevelopment;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • F01 - International Economics - - General - - - Global Outlook
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General

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