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Chapter

Cover Democratization

8. The Political Economy of Democracy  

Patrick Bernhagen

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

Cover The Institutions of the European Union

7. The Court of Justice of the European Union:  

a quiet leader

Sabine Saurugger and Fabien Terpan

The Court of Justice of the European Union (CJEU) is one of the key institutions in the European political system, and amongst the less well known. Described as one of the most powerful international courts, and perceived as one of the reasons the UK left the European Union (EU) (their main argument being that they did not want to be held to account by an unelected and non-British court), the Court continues to be shrouded in mystery. The aim of this chapter is to facilitate an understanding of the structure, history, and workings of this Court, as a key actor in the EU’s institutional system. As such, it is not only a judicial actor but a ‘political’ actor too. Its constitutional role, as well as its role during the economic and financial crisis, illustrates these multiple facets.