Overview

Democracy has been hollowed out by capitalism. A narrow view of markets and their aims now dominates thinking about democracy itself. Citizens are ignorant of the deep principles of self-governance, having long since adopted a facile equation between democracy and voting as a consumer choice. Lisa Herzog argues that democracy is still possible, but only if democratic values get embedded in everyday experience―including economic experience. That requires new ways of thinking about markets and their goals. The Democratic Marketplace theorizes the foundational structures of a democratic economy, in which markets are not just tools for maximizing profit via exploitation and extraction. To this end, employees are empowered to participate in corporate governance. Economic disparities are curbed so that citizens can negotiate their inevitable differences on a truly equal footing. And while a democratic economy need not eschew growth, it does renounce today's growth-at-all-costs expectations, instead balancing growth with goals like ecological sustainability and the preservation of time outside of work. These are not utopian dreams, Herzog contends. The proposals that follow from the theory of democratic economics are already being tested around the world. And the shift in social norms that they necessitate is already under way.

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Reviews

""A comprehensive overview of the increasingly oft-made case that economic inequality threatens the stability of the West."" -- ""Publishers Weekly"" ""Invites us to imagine an economic system that pursues not only efficiency but also the dignity and full participation of its members. Lisa Herzog makes a compelling case that the needed changes will come through a 'moral revolution' of sorts―a transformation in the narratives of how and for whom the economy works."" -- ""Dani Rodrik, Harvard Kennedy School""

Author Information

Lisa Herzog is professor of political philosophy at the University of Groningen and the author of Citizen Knowledge: Markets, Experts, and the Infrastructure of Democracy. Janelle Tedesco is a passionate, empathic, and excitable person by nature, so she loves getting to pour her soul into the narrative and characters of a well thought-out story! She has a BFA in MTH from Boston Conservatory. Janelle has performed on stages all over the world, most notably on The Best Little Whorehouse in Texas starring Ann-Margret. She has written award-winning films and won Best Actress twice. Since becoming a mother, Janelle feels she has become a better person and a better actor and storyteller. Her depth of emotion has increased tenfold, and you can hear and see that in her work. Professionally, she is an audiobook narrator, actress, singer, filmmaker, and stuntwoman.

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