The Invisibility of the Marketplace

morica (Posted by) Level 3
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I agree with Ross MacKenzie – it was indeed really striking to hear Adam and Eve invoked in this explanation of the history of the European Union’s Common Economic Market and of the rationale for how it approaches competition.

But even more noteworthy is the comparison Margrethe Vestager makes between a regulated free market and the democratic political process. We pay so much attention to the competition between candidates, the advertising through which they sell their product to us in the marketplace of political ideas, that we can be oblivious to the framework within which this competition takes place.

Process - Regulations - Process - Procedure - Implications

The democratic process is constrained and safeguarded by regulations which specify the process, the procedure, the implications of success or failure to win, what constitutes victory, and what limits are placed on the creation of absolute political monopolies. What precise constitution and laws play this role varies from society to society. But none, to my knowledge, functions as a democracy without there being laws that stipulate this is how things work.

I think it is worthwhile pointing this out, because the illusion that our politics represents an extreme “capitalist” approach, a wholly unregulated marketplace, feeds into the similar...
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