The Limits of Limiting Democracy
The intellectual and institutional architectures built around democracy are under pressure – and evolving: Germany reformed its fiscal constitution in March, Europe’s Stability and Growth Pact is undergoing a stress test, and in the United States, the White House is questioning the independence of monetary policy. Historically, democracy has an ambivalent reputation: Plato described it as both the freest and the most unstable of governments. But how far and in what ways can democracy be limited before it loses its democratic nature?
