Democratic Deficit

Democratic Deficit

Definition

Democratic deficit, according to Joseph Stiglitz (2007), defines the imbalance in representation between the developed and the developing countries in the United Nations, G-8, World Bank, IMF, world trade organizations, and other international organizations. He does not believe that the representation of the G-8 is adequate to debate the global economic forums without the world’s main economies.

Stiglitz advocates for a twenty four state membership so that it becomes the G-24. The global public institutions have non democratic systems of government as evident by the exclusive veto power wielded by the nations considered the permanent members of the United Nations Security Council.

Implications of Democratic Deficit

Democratic deficit erodes the public trust and legitimacy of the global institutions. The achievements of the United Nations, World Bank, IMF, and the rest is below par and is sheer proof that the institutions need reforms to instill global outlook particularly through appropriate representation. It is vital to acknowledge democratic deficit in that it gives the will and the strength to undertake transformations. Stiglitz discusses globalization and compares the progress of political vis-a-vis economic globalization. The reason why economic globalization is a head of political globalization is because of the inadequacies of political democracy.

Globalization creates significant interdependency between individuals, organizations, and nations. Implementing democratic principles in governance institutions will lead to an inclusive system characterized by cooperation and creation of relevant solutions to global problems. It encourages interactions that facilitate the will to institute reforms that reflect the needs of the global citizenry in its entirety. Therefore, eliminating the democratic deficit is an inevitable process.

Reference

Stiglitz, J. (2007). “Making Globalization Work”. London: Norton

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