Market Democracy in a Neoliberal Order: Doctrines and Reality

Abstract
It is widely held that the cure for such profound social maladies is within reach. The hopes have foundation. The past few years have seen the fall of brutal tyrannies, the growth of scientific understanding that offers great promise, and many other reasons to look forward to a brighter future. The discourse of the privileged is marked by confidence and triumphalism: the way forward is known, and there is no other. The basic theme, articulated with force and clarity, is that "America's victory in the Cold War was a victory for a set of political and economic principles: democracy and the free market." These principles are "the wave of the future - a future for which America is both the gatekeeper and the model." I am quoting the chief political commentator of the New York Times , but the picture is conventional, widely repeated throughout much of the world, and accepted as generally accurate even by critics. It was also enunciated as the "Clinton Doctrine," which declared that our new mission is to "consolidate the victory of democracy and open markets" that had just been won. There remains a range of disagreement: at one extreme "Wilsonian idealists" urge continued dedication to the traditional mission of benevolence; at the other, "realists" counter that we may lack the means to conduct these crusades of "global meliorism," and should not neglect our own interests in the service of others.[2] Within this range lies the path to a better world.
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