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Republic of equals : predistribution and property-owning democracy
Thomas, Alan, 1964- author.
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xxiv, 445 pages ; 25 cm.
Oxford political philosophy


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Book 0343770 JC423 .T425 2017 Central Campus Library

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The first book length study of property-owning democracy, Republic of Equals argues that a society in which capital is universally accessible to all citizens is uniquely placed to meet the demands of justice. Arguing from a basis in liberal-republican principles, this expanded conception of
the economic structure of society contextualizes the market to make its transactions fair. The author shows that a property-owning democracy structures economic incentives such that the domination of one agent by another in the market is structurally impossible. The result is a renovated form of
capitalism in which the free market is no longer a threat to social democratic values, but is potentially convergent with them. It is argued that a property-owning democracy has advantages that give it priority over rival forms of social organization such as welfare state capitalism and market
socialist institutions. The book also addresses the currently high levels of inequality in the societies of the developed West to suggest a range of policies that target the "New Inequality" of our times. For this reason, the work engages not only with political philosophers such as John Rawls,
Philip Pettit and John Tomasi, but also with the work of economists and historians such as Anthony B. Atkinson, François Bourguignon, Jacob S. Hacker, Lane Kenworthy, and Thomas Piketty.

Table of Contents

Acknowledgmentsp. xi
Permissionsp. xiii
Introductionp. xv
1 Rawls, Republ icanism, and Liberal-Republicanismp. 1
(i) Why Liberal-Republicanism?p. 1
(ii) Roman Republicanismp. 9
(iii) Liberalism and Republicanism: Complementary or Rivalrous?p. 15
(iv) Two Kinds of "Predistribution"p. 24
2 Justice, Pareto, and Equalityp. 32
(i) Rawls's Theory of Justicep. 32
(ii) Are Rawls's Views Indeterminate?p. 36
(iii) The Paretian Interpretationp. 37
(iv) Rawls and Classical Liberalismp. 39
(v) Difference Principlesp. 40
(vi) Why Fetishize the Interests of the Worst Off?p. 46
(vii) The Extrinsic Badness of Inequalityp. 54
(viii) Inequality and the Fracturing of Solidarityp. 57
(ix) Paretianism and Problems of Transitional Justicep. 64
3 G. A. Cohen's Neo-Marxist Critique of Rawlsp. 68
(i) Cohen's Critique of Rawlsp. 69
(ii) Is Rawlsian Justice Limited in its Scope?p. 75
(iii) The Rejection of Moral Dualismp. 79
(iv) Social Relations and Market Relations: A Holistic Viewp. 83
(v) Property-owning Democracy Undercuts Cohen's Critiquep. 89
4 Liberal-Republican ism and the Basic Libertiesp. 95
(i) Property-owning Democracy and the Equal Basic Libertiesp. 96
(ii) The Failure of the Fair Value Provisop. 105
(iii) Roman Republicanism and the Basic Libertiesp. 111
(iv) Property-owning Democracy and Fair Equality of Opportunityp. 116
5 Three Forms of Republican Egalitarianismp. 123
(i) Juridical Republicanismp. 124
(ii) Demogrants as a Catalytic Changep. 129
(iii) Constitutionationalizing a Background for Justicep. 133
(iv) Is the Difference Principle Redundant?p. 139
6 A Liberal-Republican Economic Systemp. 144
(i) Why Capital?p. 144
(ii) Property-owning Democracy: A Short History of an Idealp. 148
(iii) A "New Keynesian" Framework: Beyond the Welfare Statep. 154
(iv) From Meade to Rawlsp. 160
(v) Predistribution and the New Inequalityp. 165
7 Rawls's Critique of Welfare-State Capitalismp. 178
(i) Non-domination and the Critique of Welfare-State Capitalismp. 179
(ii) Is Rawls's Methodology Flawed?p. 184
(iii) A Faulty "Highest Common Factor" Argumentp. 190
(iv) Welfare and Reciprocityp. 193
(v) Three Conceptions of the Social Minimump. 205
8 Property-owning Democracy Versus Market Socialismp. 216
(i) Market Socialism in its Mandatory Formp. 220
(ii) Why Mandatory Market Socialism Must Be Exploitativep. 223
(iii) Coupon "Socialism" as a Property-owning Democracyp. 246
(iv) Capital Diffusion as a Realistic Utopiap. 253
9 Toward a Pluralistic Commonwealthp. 255
(i) From Associative Democracy to Workplace Democracyp. 256
(ii) Neo-Corporatism, Democratic Control, and Non-dominationp. 264
(iii) A Role for Civil Societyp. 272
(iv) Toward a Pluralistic Commonwealthp. 277
10 Classical Liberalism and Property-owning Democracyp. 280
(i) The Market Democratic Research Programp. 282
(ii) The Perfectionist Basis of Market Democracyp. 289
(iii) Rawls Versus Tomasi on Thick and Thin Economic Libertyp. 291
(iv) Free Market Fairness Versus Property-owning Democracyp. 298
(v) Tomasi's Unrealistic Utopianismp. 309
11 A Realistic Utopianism?p. 316
(i) "Ideal Theory" and "Realistic Utopianism"p. 317
(ii) Lack of Realism Given Actual Political Conditionsp. 322
(iii) Capital Dispersal and Democratic Governancep. 330
12 Inequality and Globalizationp. 338
(i) Rawls's Statismp. 340
(ii) LiberaLRepublicanism and Global Justicep. 343
(iii) An Autonomous Logic of "Globalizing Capitalism"?p. 345
(iv) Patterns of Global Inequalityp. 351
(v) Regulation, "Hot Money," and Instabilityp. 355
(vi) The Democratic Responsibilities of Capitalp. 363
(vii) Globalization: Threat or Opportunity?p. 365
Conclusion: Nothing Is Obviousp. 368
Notesp. 371
Bibliographyp. 419
Indexp. 439