ABSTRACT
The debate on organizing the economy has focused for decades on the ‘state vs. market dilemma.’ The ‘right-wing’ approach acts on the assumption that society is so complex that no overall coordinating mechanism will ever be able to come up with better outcomes than the spontaneous process itself. States exist only to set rules and enforce compliance, but it is not their task to provide long-term direction for society or the economy nor to create the conditions for human dignity and participation. In contrast, from the 19th century on, the ‘left-wing’ approach has focused on the state as the only institution that protects the wellbeing of its citizens and the environment.
