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Das erste Opfer der Krise ist die Demokratie. Wirtschaftspolitik und ihre Legitimation in der Finanzmarktkrise 2008-2013

Cover: Politische Vierteljahreszeitschrift, 54 (4)

Cover: Politische Vierteljahreszeitschrift, 54 (4)

Henrik Enderlein – 2013

Severe economic and financial market crises exacerbate collective action problems and thus trigger challenges to legitimacy in democracies. The article presents a typology of decision-making modes in economic policy-making in normal times and crisis times. It shows that problems of time-inconsistency in combination with high uncertainty over re-distributive implications lead to an “ad-hoc-technocratization” of economic policy-making. The separation of decision-taking from input-based legitimacy-procedures is relevant for scholars of democracy because the redistributive implications of crisis policies are high. The “democratic deficit” of crisis policies is thus not a symptom of “Post-Democracy” but of the specific context arising in an economic crisis.

Title
Das erste Opfer der Krise ist die Demokratie. Wirtschaftspolitik und ihre Legitimation in der Finanzmarktkrise 2008-2013
Publisher
Nomos
Location
Baden-Baden
Keywords
Research Project D4
Date
2013
Identifier
ISSN 0032-3470
Appeared in
Politische Vierteljahreszeitschrift, 54 (4), 714-739.
Language
ger
Type
Text