Proponents of neoliberalism contend that promoting free markets is nearly synonymous with promoting democracy. Even those who reject extreme neoliberalism and call for regulating markets often express reluctance to do so because such interventions, in their view, diminish economic freedom to some extent. After a critical examination of competing definitions of economic democracy, this article argues that, contrary to popular opinion, the market system undermines both economic and political democracy in a number of ways.
Albert, M., & Hahnel, R. (1991a). Looking forward: Participatory economics for the twenty first century. Cambridge MA: South End Press.
2.
Albert, M., & Hahnel, R. (1991b). The political economy of participatory economics . Princeton NJ: Princeton University Press.
3.
Albert, M., & Hahnel, R. (1992a). Participatory planning. Science & Society, 56(1), 39-59.
4.
Albert, M., & Hahnel, R. (1992b). Socialism as it was always meant to be. Review of Radical Political Economics, 24(3&4), 46-66.
5.
Albert, M., & Hahnel, R. (2002). In defense of participatory economics. Science & Society, 66(1), 7-22.
6.
Bowles, S. (1991, July/August). What markets can and cannot do. Challenge, 11-16.
7.
d'Arge, R., & Hunt, E.K. (1971). Environmental pollution, externalities and conventional economic wisdom: A critique. Environmental Affairs, 1, 266-286.
8.
Friedman, M. (1964). Capitalism and freedom. Chicago : University of Chicago Press.
9.
Hahnel, R., & Albert, M. (1990). Quiet revolution in welfare economics. Princeton, NJ: Princeton University Press.
10.
Hahnel, R. (1999). Panic rules! Everything you need to know about the global economy. Cambridge, MA: South End Press.
11.
Hahnel, R. (2000). In defense of democratic planning. In R. Pollin (Ed.), Capitalism, socialism, and radical political economy: Essays in honor of Howard Sherman (pp. 318-339). Cheltenham, UK: Edward Elgar.
12.
Hahnel, R. (2002). The ABCs of political economy: A modern approach . London: Pluto.
13.
Hahnel, R. (2005a). Economic justice. Review of Radical Political Economics, 37(2),
14.
Hahnel, R. (2005b). Economic justice and democracy: From competition to cooperation. New York: Routledge .
15.
Hahnel, R. (2006). Exploitation: A modern approach. The Review of Radical Political Economics, 38(2), 175-192.
16.
Hahnel, R. (2007). The case against markets. Journal of Economic Issues, 41(4), 1139-1159.
17.
Hunt, E.K. (1980). A radical critique of welfare economics. In E. Nell (Ed.), Growth, profits, and property (pp. 239-249). Cambridge, UK: Cambridge University Press.
18.
Hunt, E.K., & d'Arge, R. (1973). On lemmings and other acquisitive animals: Propositions on consumption. Journal of Economic Issues, 7(2), 337-353.
19.
Iannello, K. (1992). Decisions without hierarchy: Feminist interventions in theory and practice. New York: Routledge.
20.
Roemer, J. (1984). Free to lose. Cambridge, MA : Harvard University Press.
21.
Rothschild, J., & Leach, D. (2006). Avoid, talk or fight: Alternative cultural strategies in the battle against oligarchy in collectivist-democratic organizations. In R. Cnaan & C. Milofsky (Eds.), Handbook on community movements and local organizations (pp. 346-361). New York: Kluwer/Plenum.
22.
Sen, A. (1999). Development as freedom. Oxford , UK: Oxford University Press.
23.
Whitt, J.R. (1979). The collectivist organization: An alternative to rational bureaucratic models. American Sociological Review , 44, 509-527.
