Sep 17, 2012
Center for Democracy and Civil Society

Call for Papers: Politics of the Economic Crisis

In the 10th year of the print edition of Democracy&Society, our journal will take a deeper look into the reconfiguration of political forces after the economic downturn, with particular attention to its effects on democracy, sovereignty and the clash between expansionism and austerity. Don’t miss the opportunity to participate!

Democracy & Society, Volume 10, Issue 1

 We are seeking well-written, interesting submissions of 1500-2000 words on the themes below, including summaries and/or excerpts of recently completed research, new publications, and works in progress. Submissions for the issue are due Monday, October 22nd, 2012.

Politics of the Economic Crisis

The turbulence created by the economic crisis of 2008 went far beyond the financial sector. The political upheaval that ensued has reignited ideological debates among scholars, policymakers, and civil society over the proper role of government in the economy. The ideological arguments for austerity on the one hand, and expansionism on the other, have resulted in a clash that precipitated the fall of governments all over Europe and contributed to the dramatic polarization and political stalemate in the United States. The consequences of the economic downturn are still unfolding, but its political effects on policymaking, democratic institutions, and national sovereignty are already a reality. In order to better understand these developments, several questions can be addressed, including:

-                    The boundaries of sovereignty and the future of the Euro Zone – European governments continue to clash over policies of austerity and expansionism. The European Central Bank along with the largest European economies insist on imposing austerity measures on the weakest Euro Zone members, and the loss of decision-making power by national governments is creating new tensions between domestic political demands and international economic realities. What might the European Union look like in the future? Is further integration via fiscal unity a viable option at this point? Or will political dissatisfaction and financial constraints lead to a reconfiguration of the Euro Zone? What are the consequences for democracy in countries such as Greece, Portugal, and Spain, whose governments are under pressure from supranational bodies?

-                    The Hardening of Ideological Divides – U.S. policymakers responded to the financial crisis by injecting hundreds of billions of dollars into the economy. This approach provoked protests and intensified the ideological debate between left and right over government roles and responsibilities. Did the financial crisis fundamentally change the balance of political power? What does the inability of the United States to conduct meaningful financial sector reform say about dominant political forces in the country? And what does the current political gridlock, along with its ideological undercurrents, mean for the future of American democracy?

-                    State regulations and interventions – A good part of the discussion of how to prevent future crises has focused on the correct level of state regulation of the economy. Some argue, however, that the issue is not the quantity but rather the quality/content of the regulations and relationship between state and society. Is the paradigm shifting? What lessons are policymakers drawing about this particular relationship? Is the new “State Capitalism” – with governments at the center of stability and growth promotion – a useful model, and are we likely to see more countries adopting it moving forward?

-                    Reviewing the Washington Consensus – The responses to the crisis have been marked by massive infusions of cash in national markets and an exponential increase in the amount of debt that governments have accrued in an attempt to keep their economies afloat. Once considered nearly extinct, believers in “Keynesian” stimulation via large budget deficits are now mainstream. Is the new flexibility on fiscal discipline, manipulation of interest rates, deregulation, and even nationalization of industries signaling the demise of the Washington Consensus? Or are the expansionary policies of today merely a temporary bitter pill that will be discarded once the threat of recession fades?

-                    The rise of inequality and the future of the middle class – One of the signatures of the current economic downturn, primarily (but not only) in the U.S., is the rise of inequality in rich countries, with particular losses for the middle class. This trend is not new, but the expanding gap between rich and poor has accelerated recently. Some argue that inequality is right at the center of the financial crisis since it prompted policymakers to expand and ease credit for families. How does the weakening of the middle class impact the future of democratic politics? What does the current level of inequality say about the success of developed democracies, and should less-developed democracies re-think their approach to economic growth?

-                    Rebalancing world forces –The difference in the pace of growth for areas previously known as “center” and “periphery” since the beginning of the crisis has profoundly impacted the international balance of power. It has become commonplace to say that the G20 has replaced the G8, and institutions such as the IMF and the World Bank face pressure for reform to reflect the new influence of emerging economies. However, old structures resist this reconfiguration of geopolitical power. How did the economic crisis impact international coordination and decision-making? Is global power really shifting? Who are the winners and losers of this emerging scenario?

Please email submissions to democracyandsociety@gmail.com. For additional information, please visit www.democracyandsociety.com or contact Andrea Murta or Josh Linden at democracyandsociety@gmail.com.

Other

3 Comments

  • I strongly suspect that neither political party really knows what to do regarding the economy, nor do the experts, although they have opinions and theories. (If you want to really check out their level of confidence, ask them to guarantee the stated results of their anticipated policies, and then require them to put up their family assets resulting in forfeiture if they are wrong.) The problem is simply too large, complex, and interconnected with economies of other nations, over which the US has no control.
    To fix most things in the universe, you have to get them to “sit still” at least for a short period of time, and suspend those outside factors bearing on the problem. This is a dynamic situation. If we as a society actually knew what worked, and could establish a cause and effect relationship with any certainty, we would have done it by now. Don’t you think?

  • [...] our next edition of the Democracy & Society journal focuses on politics of the economic crisis, I have been [...]

  • [...] is not only our own Democracy&Society journal that is looking for great contributors at the moment: IFES Election Guide is also seeking [...]

Leave a comment

Founded in 2004, Democracy and Society is a biannual print journal published by the Center for Democracy and Civil Society at Georgetown University. The D&S Blog provides web-only content, including special reports and investigative series, on issues relating to democracy and development.

Email Subscription to D&S and Blog

* indicates required

Posts by Region

Posts by Topic

Switch to our mobile site