Despite the persistent doomsaying about the political consequences of untrammeled international capital flows, financial liberalization may actually contribute to democratic consolidation.
Political elites once held referendums to fend off challenges to European integration. More recently, Euroskeptic parties have employed referendums to batter down the walls of elite consensus. But the spread of referendums threatens to undermine the legitimacy…
Three leading French political thinkers reflect on why modern democracies tend to forget their own natures, even to the point of encouraging an assertive "identitarianism" that could undermine liberal democracy…
