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Too much of our domestic debate is dominated by a familiar dichotomy. On the one side, behold the hard-headed partisans of the market, emphasizing the need for efficiency and the dead hand of bureaucracy. On the other side stand the embattled defenders of democracy, emphasizing the reality of non-market values and the callousness of the invisible hand. Democracy versus the market: doubtless the conflict is often real enough; and when we must choose, we shall stand with the democrats. But precisely because there are fundamental values on both sides of the versus, we should not be too quick to impale ourselves on the prongs of a false dichotomy. Can markets be designated in ways which enhance, rather than undermine, the reality of democratic self-rule?

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