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By K. Sabeel Rahman

In 2008, the cave in of the U.S. economy plunged the economic climate into the worst fiscal downturn because the nice melancholy. In its aftermath, the monetary problem driven to the leading edge primary ethical and institutional questions about how we govern the fashionable economic climate. What are the values that financial coverage should prioritize? What associations will we belief to control complicated fiscal dynamics? a lot of Read more...


How do notice democratic values in a posh, deeply unequal smooth economic climate and within the face of unresponsive governmental associations? Drawing on revolutionary period concept and sparked through the real Read more...

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17 The managerial vision of government is best exemplified by James Landis. One of the central architects of the New Deal, a protégé of Felix Frankfurter, and former clerk for Supreme Court Justice Louis Brandeis, Landis was already a leading young law professor when he helped design the newly minted Securities and Exchange Commission (SEC), which he would later chair. 18 In a complex modern economy, growth and market efficiency could only come through the judicious oversight of regulatory agencies, staffed by specialized experts capable of making policy on the substantive merits rather than according to the dictates of interest group politics or the archaic limits of legal doctrine.

Public discussion and deliberation is, of course, important. But such debate must necessarily involve disagreement, passion, and argument. This kind of participation in the practice of political judgment is necessarily contestatory; it will not necessarily, nor should it ideally, produce a genteel consensus among participants. Instead, it provides a route toward the gradual emergence of considered judgments and common understandings through debate and experiment. Institutionalizing Democratic Political Agency This focus on meaningful political agency and participation suggests a more diverse array of institutional structures and conditions in order to realize democratic aspirations.

This democratic view of regulatory agencies in turn reorients two further debates in regulatory theory and administrative law. First, it offers an alternative to attempts in contemporary administrative law to reconcile norms of democracy with the realities of the regulatory process. One set of scholars, judges, and practitioners emphasizes the role of political oversight: so long as agencies act under the supervision of the democratically elected Executive, they can be understood to be acting on behalf of and consistent with democracy.

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