LIBERAL DEMOCRACY VS. NEOLIBERAL GLOBALIZATION

Abstract

Although the accelerated globalization of recent decades has fl ourished in tandem with a notable growth of liberal democracy in many states where it was previously absent, it would be hard to say that the prevailed processes of neo-liberal globalization foster development of global democracy and the rule of law. On the contrary, globalization has undercut traditional liberal democracy and created the need for supplementary democratic mechanisms. However, suprastate democracy as well as potential unoffi cial channels of global democracy have shown in practice many democratic defi cits rather than democratic credentials.

On the other hand, neo-liberalism i.e. libertarianism, which has generally prevailed as the authoritative philosophical matrix and policy framework in contemporary globalization, does not have much in common with philosophy of social and political liberalism which creates the ideal of liberal democracy of well-ordered society.