Revista de Economía Institucional
Print version ISSN 0124-5996
AGAFONOW, Alejandro. THE LIMITS OF ECONOMIC EFFICIENCY IN A DEMOCRATIC SOCIETY. Rev.econ.inst. [online]. 2007, vol.9, n.16, pp. 89-119. ISSN 0124-5996.
During the 20th century, Marxism and non-egalitarian or classical liberalism debated the properties of economic reasoning, that is, the way economic institutions value multiple ends. This debate produced an implicit consensus between market socialists and non-egalitarian liberals about democracy. In this consensus, the Rousseau’s general will was replaced by the individual will, and popular sovereignty reflected in consumer sovereignty. This essay uses a Rawlsian perspective to analyze the limits of economic efficiency in a democratic society.
Keywords : economic efficiency; democracy; Rawls.