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This chapter examines the relationship between democratization and the economy. It first provides an historical overview of the emergence of capitalist democracy before discussing some general problems of the relationship between democracy and capitalism, highlighting the main areas in which the two systems condition each other. It then considers the role of business in democratizing countries, and more specifically the role of business actors in the transition to democracy. It also explores the intricacies of combining major political and economic reforms. Some key points are emphasized; for example, capitalism focuses on property rights while democracy focuses on personal rights. Furthermore, capitalism produces inequality, which can both stimulate and hamper democratization.

Chapter

This chapter examines economic rationalism, a discourse of environmental problem solving which builds on its advances in all areas of political life to generate alternatives to and remedies for the pathologies it identifies in both administration and liberal democratic governance. Economic rationalism may be defined by its commitment to the intelligent deployment of market mechanisms to achieve public ends. It differs from administrative rationalism in its hostility to environmental management by government administrators — except in establishing the basic parameters of designed markets. The chapter first considers the issue of privatization and private property rights before discussing less radical strands that stress market incentives but not necessarily private property. It also describes the discourse analysis of economic rationalism and concludes with an assessment of the limitations of economic rationalism, including its treatment of government.

Chapter

Camilla Boisen

This chapter examines Hugo Grotius' key political ideas. Grotius, one of the most prolific and erudite writers of the seventeenth century, sought to formulate a set of universal rights and duties that would secure peace by constraining states in their internal and external relations. Drawing on a wide range of philosophical and literary sources, including Roman law, ancient classics, theology, and poetry, Grotius rehabilitated the natural law in an attempt to achieve harmony in an increasingly splintered political environment. After providing a short biography of Grotius, the chapter analyses his views on natural law, natural rights, property rights, sociability, self-preservation, and social contracts. It also discusses Grotius' arguments regarding international order in the context of just war theory and punishment and concludes with an assessment of Grotius' legacy in the area of political thought.

Chapter

6. Leave It to the Market  

Economic Rationalism

Economic rationalism involves the intelligent deployment of market instruments to achieve public ends such as environmental protection and resource conservation. The instruments in question can involve the establishment of private property rights in land, air, and water; “cap and trade” markets in pollution rights (emissions trading); tradeable quotes in resources such as fish; green taxes, such as a carbon tax; and the purchase of offsets to compensate for environmentally damaging behavior. These instruments have been adopted in many countries, though with some resistance from those who believe there is more to life than economic reasoning.

Chapter

Katrin A. Flikschuh

This chapter examines the political ideas of Immanuel Kant. Kant is widely regarded as a precursor to current political liberalism. There are many aspects of Kant's political philosophy, including his property argument, that remain poorly understood and unjustly neglected. Many other aspects, including his cosmopolitanism, reveal Kant as perhaps one of the most systematic and consistent political thinkers. Underlying all these aspects of his political philosophy is an abiding commitment to his epistemological method of transcendental idealism. After providing a short biography of Kant, this chapter considers his epistemology as well as the relationship between virtue and justice in his practical philosophy. It also explores a number of themes in Kant's political thinking, including the idea of external freedom, the nature of political obligation, the vindication of property rights, the denial of a right to revolution, and the cosmopolitan scope of Kantian justice.