![]() On an exclusive island at a premiere restaurant, diners are about to learn that famed Chef Slowik (Ralph Fiennes) has more planned for the evening than mouth watering cuisine. In the specific context of the EU, this would mean opening up more policy space for national decision-makers and parliaments – in particular by giving them a more influential role in fiscal policy, and by making monetary policy m ore democratic.Ralph Fiennes is bound for Oscar glory with his devastating performance of a master chef gone mad in The Menu. Strengthening European democracy requires a ‘repoliticization’ of economic policymaking, including both fiscal and monetary policymaking.But such a focus on culture is unlikely to address the inequalities behind the dysfunction of democra cies in Europe. As this depoliticization has to a large extent made democratic contestation over economic policy redundant, politics has increasingly been polarized around ‘cultural’ questions.The expansion of technocratic modes of governance – notably through independent central banks and EU-level institutions – has in many cases entrenched the policy preferences of specific groups in institutions removed from direct demo cratic control. Democratic systems have also been made less responsive to electorates through the ‘depoliticization’ of policymaking, in particular economic policy, as a result of its insulation from national-level democratic scrutiny.In turn, these developments have generated increasing political inequality, as economic policymaking has served the interests o f the well-off. Over the past 40 years, economic inequality – ranging from income inequality to discrepancies in wealth and economic security – has widened throughout developed economies.It is important that the relevant policy changes and responses are democratically legitimate and do not foster the kind of political backlash that previous economic trans formations did. ![]() Understanding these weaknesses in the functioning of European democracies is crucial to an effective approach to future economic transformations, in particular the green transition, but also for dealing effectively and equitably with challenges such as higher inflation.Instead of focusing exclusively on the rise of ‘populism’, it is necessary to acknowledge the multiplicity of threats to European democracy, in particular those arising from the structure of European economies and economi c policymaking. To understand contemporary challenges to European democracy, it is crucial to look beyond the surface of politics and consider the deeper relationship between democracy and the economy. ![]() In Europe’s case, the functioning of democracy can only be strengthened through a ‘repoliticization’ of economic policymaking, including both fiscal and monetary policymaking. ![]() The green economic transition and other policy challenges such as tackling high inflation mean it is critical to understand how economic change can be successfully accomplished without triggering a political backlash. ![]() Furthermore, democratic systems have become less responsive to electorates through the ‘depoliticization’ of policymaking, in particular economic policy, as a result of its insulation from national-level democratic scrutiny. Instead, it requires acknowledging a multiplicity of threats to democracy, in particular those arising from the structure of European economies and economic policymaking.Ī sharp increase in economic inequality – ranging from income inequality to discrepancies in wealth and economic security – over the past decades has translated into political inequality. Understanding contemporary challenges to democracy in Europe requires looking beyond the rise of ‘populism’. ![]()
0 Comments
Leave a Reply. |