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The Next Democracy
Reimagining How We Govern Ourselves Through the Power of Data and Markets
Erdem Ovacik (Author)
9781394315383, Wiley
Hardback, published 12 June 2025
304 pages
23.4 x 15.8 x 2.8 cm, 0.499 kg
Explore why we feel stuck with our democracies, and radical new visions for governing ourselves and the planet In The Next Democracy, social entrepreneur and Founder of Donkey Republic, Erdem Ovacik, delivers a startlingly insightful discussion of a new collective governance model based on markets and data that can improve our wellbeing as individuals, and as a society. The author explains how we can develop the next generation of government that is data-driven, iterative, transparent, and that we decentrally and directly make laws online using prediction markets and delegate voting. Using same principles of data and market, the author also explores delivery of public goods, where we link products and services' externalities to measurable metrics we collectively care about altering business models, and removing the dichotomy of consumerism and public service. You'll explore how we can assign real value to our public goods, changing the way we think about valuation and budgets for public spending. Filled with case studies, illustrations, new governance models and frameworks, and key takeaways and summaries of each chapter, you'll also find: Perfect for citizens who seek fresh visions for democracy, and young professionals and impact entrepreneurs who want to work towards creating impact. The Next Democracy is also a must-read for those who seek change through their investments to see the role they can play for a clear vision for a world we can all happily live in.
Introduction 1 Chapter 1 Exodus From Populism 7 The Growing Mistrust in Public Governance 15 Digging Into the Representation Problem 24 Qualities of Good Governance 32 Excessive Inequality Undermines Democracy 41 Public Goods: What Money Can’t Buy 50 When Money No Longer Means Value 55 Tech Will Save Us: The Tech-Naive Story 58 Filling the Void? Charity, Impact-investing, Corporate Social Responsibility 64 Our Four Economic Hats: The Consumer, Investor, Laborer, and the Citizen 70 Chapter 2 Democracy’s Crossroads: Innovate Or Die 75 Innovating Companies Win, Big Time 80 Evolution Thrives with Experimentation 82 Getting Innovation into the Government 86 Dystopian Outcomes of Dysfunctional Democracies 94 Chapter 3 Brewing Change for Legislation 97 Experiments with Voting 101 Participatory Budgeting 104 Citizen Assemblies 107 Digital Changemakers from WikiLeaks to Liquid Democracy 110 DAOs – Decentralized Autonomous Organizations 114 Chapter 4 The Struggle to Deliver Public Goods 121 How Did We Get Here? 124 From Leading to Fire-fighting 127 The Move Toward Privatization 129 Rethinking Public Procurement 131 Efficient but Not Effective 133 Buying Goods from Companies Based on Outcomes 135 Pricing What Matters 139 Beyond ESG and CSRD 143 Chapter 5 Merit Democracy: the Way Forward 147 Holding Ourselves Accountable 150 Experimenting Over Forecasting 152 Embracing Markets for Public Goods 159 Empowering Public Goods with (Big) Data 164 Transparency Breeds Legitimacy 167 An Open and Inclusive Design 169 Chapter 6 Merit Democracy in a Bicycle 173 The Front Wheel: Legislation in Merit Democracy 176 Betting Can Save Our Democracy 178 The Economy of Citizen Credits 185 Legitimacy Through (Liquid) Voting 190 Measurement as Underlying Enabler 195 Envisioning a Policy Market to Overcome Loneliness 197 The Back Wheel: Delivery of Public Goods in Merit Democracy 200 Money–Value Alignment 200 Unleashing New Business Models 205 How to Fund Public Goods 208 Envisioning a Mobility Impact Market to Overcoming Car Dependency 210 Envisioning a Media Impact Market to Overcome Click Bait Culture 214 The Handlebar: Taking Ownership of Our Challenges 217 City, National/Federal, Global 220 The Bike Frame: Role of State in Merit Democracy 224 Chapter 7 Reasons to Remain Cautious 227 Digital Literacy and Access 228 Losing the Personal Touch 229 Limits to Measuring 230 We Should Focus on Degrowth 233 Fighting the Enemy Is Priority 234 Prone to Manipulation 236 Privacy and Data Safety 237 Trapped in Siloed Thinking 238 Experimentation Is Well Worth the Risks 239 Chapter 8 The Mission Ahead: Bend Not Break 243 Change from Within 246 Digital-born Alternatives 251 But What Can I Do? 252 Getting Political 256 One Day in Not So Distant Future 259 Notes 265 References 267 Index 279
Subject Areas: Business & management [KJ]
