The Renegotiated Contract
The renegotiated contract. What happens to governance when the fiscal base contracts and the democratic absorption mechanism cannot process the speed of the transition. The fiscal cliff, the democratic absorption problem, the sovereign gap.
TAM_RWR_4-01
The Fiscal Cliff
The fiscal base that funds everything the government does is contracting. Not because of policy failure. Because the economic activity that generated the tax revenue is being …
TAM_RWR_4-02
The Democratic Absorption Problem
Democracy absorbs change slowly. That is a feature when the change is slow enough for institutions to process. The current transition is faster than the absorption mechanism can …
TAM_RWR_4-03
The Sovereign Gap
National governments are competing with each other for automated infrastructure investment, offering incentives that reduce the local benefit of what they attract. The sovereign …