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"Sovereign debt default is an often catastrophic form of economic crisis that can affect the entire global economy. The IMF predicts that, in the coming years, over 50 countries are at risk of default. Yet, we understand little about the political determinants of this decision to renege on...
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it resides in the morphing of a constitutional system of limited democracy into one of progressivist or oligarchic … democracy. The clear and present danger is that the present crisis will end up strengthening the conservative forces of … progressivist democracy and its program of continually extending the reach of politics into society. The avoidance of that danger …
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