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  1. Home
  2. Books
  3. Escape from Democracy
  • Cited by 54
Publisher:
Cambridge University Press
Online publication date:
January 2017
Print publication year:
2016
Online ISBN:
9781316499078
DOI:
https://doi.org/10.1017/9781316499078
Subjects:
Economics, Macroeconomics, Political Economy, Politics and International Relations
Information

Book description

The orthodox view of economic policy holds that public deliberation sets the goals or ends, and then experts select the means to implement these goals. This assumes that experts are no more than trustworthy servants of the public interest. David M. Levy and Sandra J. Peart examine the historical record to consider cases in which experts were trusted with disastrous results, such as eugenics, the regulatory use of security ratings, and central economic planning. This history suggests that experts have not only the public interest but also their own interests to consider. The authors then recover and extend an alternative view of economic policy that subjects experts' proposals to further discussion, resulting in transparency and ensuring that the public obtains the best insights of experts in economics while avoiding pitfalls such as expert bias.

Reviews

'You might think that an age of anticipated global warming is the wrong time to question the popular habit of deference to experts. David M. Levy and Sandra J. Peart argue otherwise in Escape from Democracy, contending that democratic discussion, not hierarchical domination, is the mode appropriate to the public sphere. They trace the eclipse of the democratic tradition in university economics. They illustrate the dangers of runaway authority with two disturbing cases: the eugenics movement, and comparative economics during the Cold War. This is a wise and high-spirited book by two of economics’ foremost public intellectuals.'

David Warsh - Proprietor of the weekly commentary Economic Principals

'Levy and Peart demonstrate brilliantly the dangers of deferring to experts. When we treat politics like engineering or dentistry we ask the experts to choose for us. This technocratic error is the escape from democracy the authors warn us against. If we are serious about equality, we must be serious about democracy. Theirs is a message - and an analysis - that we, the people, urgently need to hear.'

Roger Koppl - Syracuse University

'Levy and Peart are impressively knowledgeable in the primary and secondary classics of history of economics, not to mention statistics, game theory and archival research. They get excited by the subject and have produced an engrossing and relevant volume. As these notes may suggest, their book encourages discussion, even debate.'

Joseph Persky Source: EH.Net

'This is a fascinating and important book … we have here the beginning of a much-needed and long-overdue conversation.'

Charles R. McCann Source: History of Economic Ideas

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Contents

Contents
References

Bibliography

Unpublished Manuscripts

The Authors’ Collections

John Rawls’s Marginal Notes on Frank Knight. 1951. Ethics of Competition. 2nd impression. New York: Augustus Kelley.
John Rawls’s Marginal Notes on Lionel Robbins. 1949. An Essay on the Nature and Significance of Economic Science. 2nd edn, revised and extended. London: Macmillan.

Cambridge University

Charles Darwin Correspondence Project.
Transcription of Calendar number: 10988, draft of a letter from Charles Darwin to Charles Bradlaugh, June 6, 1877, supplied to D. M. Levy and S. J. Peart, October 6, 2004.

Dwight Eisenhower Presidential Library

George Mason University Libraries. Special Collections and Archives

Clark Warburton Papers, 1920–1979, available from http://sca.gmu.edu/finding_aids/warburton.html

Library of Congress, Manuscript Division

London School of Economics Archives

[R. A. “Pat” Adams Collection.] LSE History Project Photographs/16.

National Archives

Stanford University. Hoover Institution.

Gordon Tullock Papers. Hoover Institution, Stanford University, available from www.oac.cdlib.org/findaid/ark:/13030/kt787034zq/entire_text/
V. Orval Watts Papers. Hoover Institution, Stanford University, available from http://pdf.oac.cdlib.org/pdf/hoover/83064.pdf

University of Liverpool Library.

John Fraser Collection, available from www.liv.ac.uk/library/sca/colldescs/fraser.html

University of Virginia.

Small Special Collections, University of Virginia, President’s Papers.

Court Decision

Abu Dhabi Commercial Bank, King County, Washington, Together and On Behalf of All Others Similarly Situated, v. Morgan Stanley & Co. Incorporated, Morgan Stanley & Co. International Limited, The Bank of New York Mellon (F/K/A The Bank of New York), Qsr Management Limited, Moody’s Investors Service, Inc., Moody’s Investors Service Ltd., Standard And Poor’s Ratings Services and the McGraw Hill Companies, Inc. 08 Civ. 7508 (SAS). Southern District of New York (September 2, 2009).

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