"Politics lags behind the facts. We live in an era of deep technological and economic change that has not been matched by a similar development of public institutions responsible for its regulation. The economy has been globalised but political institutions and democracy have not kept pace. In spite of their many peculiarities, differences and limitations, the protests that are growing all over the world show an increasing discontent with the decision-making system, the existing forms of political representation and their lack of capacity for defending common goods. They express a demand for more and better democracy."
This week saw the publication of two interesting manifestos. A “Manifesto for Economic Sense” by Krugman and Layard on the economic crisis and this one in Open Democracy by David Hayes on the need for global democracy. Both manifestos are correct diagnoses of two aspects of the "great disruption" but both also are very disappointing in terms of alternatives. New 21st century Keynesianism and a World Parliament are solutions which are still seriously chained to the failing capitalist paradigm.