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Economics Against Democracy


  • Manuel Couret Branco

    (NICPRI/University of Évora, Évora, Portugal)


The main purpose of this paper is to demonstrate that mainstream liberal economics is intrinsically contradictory to the democratic ideal. The first stage of this demonstration concerns the deconstruction of the naturalization process of economics, in other words the process through which putative economic laws became equivalent to natural laws, which transformed economic decisions into technical issues supposedly free from democratic debate. The second stage concerns the ways in which the market has managed to legitimize its hegemony in society and the reasons why this contributes to the erosion of democracy.JEL classification: A13, B00, P10

Suggested Citation

  • Manuel Couret Branco, 2012. "Economics Against Democracy," Review of Radical Political Economics, Union for Radical Political Economics, vol. 44(1), pages 23-39, March.
  • Handle: RePEc:sae:reorpe:v:44:y:2012:i:1:p:23-39

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    References listed on IDEAS

    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.
    2. Robert J. Barro, 1999. "Determinants of Democracy," Journal of Political Economy, University of Chicago Press, vol. 107(S6), pages 158-183, December.
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    More about this item


    economic theory; rationality; market; capitalism; democracy;

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • H4 - Public Economics - - Publicly Provided Goods
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • J8 - Labor and Demographic Economics - - Labor Standards
    • K0 - Law and Economics - - General


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