Democracy Again! 

We make many decisions by drawing on scientific evidence. Many others are guided by cost–benefit analysis and market considerations. History has repeatedly shown that turning our backs on science or market mechanisms has often led to economic, social, and political disasters.

Yet a substantial share of our decisions remains inherently subjective. These are choices we make simply because we prefer one option over another, with no objective theory capable of determining which is "correct." Would I rather spend my money on a summer holiday or on a new car? Science has nothing to say about the answer. It is a matter of personal preference.

In the Western world, the range of available choices continues to expand. Many regard this growing diversity of options as a hallmark of prosperity—perhaps even of happiness. But what happens when such choices must be made collectively? Should society devote more resources to supporting the poor or to building a new bridge? How do we reconcile an ever-expanding landscape of subjective—and often conflicting—preferences?

The central argument of this book is that for those who value individual freedom, yet do not wish to live in isolation from society, there exists a uniquely powerful instrument for balancing personal autonomy with the responsibilities of citizenship.

That instrument is democracy.

Democracy occupies a distinctive place because it provides the most effective framework we have devised for managing collective choices among free individuals. Its value lies precisely in this function—and in no other. It is not a measure of a people's wisdom, nor does it guarantee justice, fairness, or morally superior outcomes. These are among the many myths that have accumulated around democracy over time.

Democracy is, above all, a pragmatic institution for making collective decisions, much as markets are pragmatic institutions for discovering prices and coordinating economic exchange. Neither possesses an inherent moral character. Their value lies not in embodying virtue but in providing the most effective mechanisms we have yet developed for coordinating human choices and interactions.

This book argues that there are compelling reasons to rediscover democracy in precisely these pragmatic terms and to make better use of it. That task is especially important for those who, like myself, identify as European and strongly support the continuing project of European integration.