ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book argues that over-reliance on the implementation of interventionist redistributive and regulatory mechanisms that restrict market freedom is likely to diminish rather than enhance the substantive opportunities of the least advantaged members of liberal societies. Progressive interventionist social democratic institutions are, at best, only necessary supplements to progressive market democratic institutions. Thus, the contribution the book seeks to make to the market democracy and predistribution/property-owning democracy (POD) literatures offers a challenge to both right- and left-liberalism. The model of the POD is seen as providing the basis for a new progressive approach to social and economic reform that constitutes, not necessarily an alternative. But certainly an essential supplement to the traditional social democratic redistributive tax-and-transfer approach that has hitherto provided the basis for progressive social liberal thinking.
