Democracies and Economic Power

It is well-known that in the markets citizens do not decide with an egalitarian vote, rather economic actors decide in terms of the resources they own. Governments can intervene, imposing regulations to prevent abuses or harmful effects for development, but that regulatory capacity is conditioned by the influence (sometimes decisive) that certain economic groups exercise on the economic policy and on the own normative regime that should control them. They exercise their power by lobbying on broad sectors of politics and the judicial system as well as influencing electoral processes together with closely related public opinion shapers. Nowadays, economic and especially financial power conditions and guide socioeconomic performance.

Our societies face a global crisis that is social, economic, environmental and political in nature. While majorities try to adjust the course, the concentrated economic power resists those changes. It is an uneven fight because in the popular field a variety of perspectives exist that need to be considered and conjugated. An enormous but much needed task.

Greetings,

The Editors

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