An urgent critique of the market-fundamentalist ideals undermining democratic politics, pointing the way to principled reforms.
Democracy has been hollowed out by capitalism. A narrow view of markets and their aims—prioritizing efficiency, profit, and growth—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.
Reference: Herzog, L. (2025). The Democratic Marketplace: How a More Equal Economy Can Save Our Political Ideals. Harvard University Press. https://www.hup.harvard.edu/books/9780674294516
