Democratic Governance for a globalized World

If we ask the question, what should democratic governance be for the globalized world, the answer would be pretty clear:

The globalized world needs governance:

  • that can control globalization;
  • that can control global competition, especially the financial markets;
  • that can help protect the middle-class in countries, where it is threatened, and create one where it does not exist;
  • that can demonstrate that democratic decisions, not speculators and banks determine our lives.

In short, democratic governance should protect people in the way that winners and losers of globalization are not merely determined by market-forces. Democratic governance should tame the creative and destructive forces of globalization the same way the Welfare State tamed the forces of Manchester Capitalism in the late 19th and early 20th century.