Distinct philosophical traditions have associated democracy and market order with magnificent promises of satisfaction for human existential needs and relationships: nevertheless, neither representative democracy, nor the market have been up to the promises, and there seems to be no way to close the gap between their idealized images and the historically given reality. Questions of relationship (complementarity, mutual exclusion?) between capitalism and democracy have been of central concern to political thinkers for a long time: taking into account some aspects of this debate, this paper focuses on the actual overlap among political and financial institutions. The analysis of the contemporary debate on the consequent change both in political decision-making, and in practices of social regulation, is combined with a re-reading of two crucial points in the evolution of liberal tradition: Mandeville’s planning of inequality and Hayek’s celebration of the miracle of the market (catallaxy). In order to give a perspicuous representation of the possibile distortions of democratic decision-making by the financial and economic power of non-elected bodies, the paper suggests the introduction of a third capital formula, beyond the general formula for the industrial capitalism (D-M-D’) and the more formula of financial capitalism (D-D’).

Il monstrum democratico e la terza formula del capitalismo

MORI L
2014-01-01

Abstract

Distinct philosophical traditions have associated democracy and market order with magnificent promises of satisfaction for human existential needs and relationships: nevertheless, neither representative democracy, nor the market have been up to the promises, and there seems to be no way to close the gap between their idealized images and the historically given reality. Questions of relationship (complementarity, mutual exclusion?) between capitalism and democracy have been of central concern to political thinkers for a long time: taking into account some aspects of this debate, this paper focuses on the actual overlap among political and financial institutions. The analysis of the contemporary debate on the consequent change both in political decision-making, and in practices of social regulation, is combined with a re-reading of two crucial points in the evolution of liberal tradition: Mandeville’s planning of inequality and Hayek’s celebration of the miracle of the market (catallaxy). In order to give a perspicuous representation of the possibile distortions of democratic decision-making by the financial and economic power of non-elected bodies, the paper suggests the introduction of a third capital formula, beyond the general formula for the industrial capitalism (D-M-D’) and the more formula of financial capitalism (D-D’).
2014
Mori, L
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11568/1166684
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