Focus Paper: Democratising the Economy in an Era of Disordered Order
Since the inception of modern democracies, the promise of social progress and a more prosperous and better future has been at the heart of democratic societies. Yet, nowadays this emancipatory promise seems to be weakened for an increasing number of people. Key social spheres and infrastructures such as the workplace, housing, fiscal policy, and central bank planning still lack or have been removed from democratic control and democratic ordering principles under the chiffre of being neutral or non-political spheres. At the same time, democracies face a representation gap due to persisting structural injustices. In what areas have democracies partly lost their ingrained promise of social progress historically? And how can (re)democratising those social spheres and infrastructures forge a path towards an inclusive and prosperous future which could revive the promise of social progress?
This focus paper paper argues that in order to bring back the promise of social progress, we have to democratise the economy by widening, opening up, and ordering democratic rule over social spheres and infrastructures in and beyond parliaments.