
Is the economy a driving force behind democracy or its gravedigger? – Article 2 Political liberty and equality are the two cardinal principles of contemporary democracies. Their meaning may seem familiar, yet it is far from self-evident. Liberty may refer, among other things, to independence from domination, protection against arbitrary power, participation in collective government,…

In The Passions and the Interests (1977), the historian Albert O. Hirschman shows how, in the 17th and 18th centuries, the concept of interest established itself as the pivot of justificatory frameworks in political economy.1 His enquiry draws in particular on 17th-century moral philosophy, as well as on Montesquieu, Hume, and Smith. Building on those…