The Messy Common Good: Constitutionalism Balancing Markets and Democracy

Motivation: A key ethical implication for post-COVID recovery is the vital role of constitutionalism as the necessary , desirable element for balancing capi-talism and democracy. The associated welfare theorem is that the common good requires all three dimensions functioning appropriately.Premise: This paper is a theoretical investigation into the nature of common good as an unavoidably messy resultant. Messy means complicated and unsatis-factory, in contrast to idealized. Viewing one dimension in isolation will empha-size ideal strengths of a preferred dimension while criticizing evident weaknesses of other dimensions.Approach: The paper develops three arguments. specialIntscript The common good is un-avoidably a messy resultant of complex interactions. specialIntscript Business, like science and technology, should retain a relatively independent role. specialIntscript Constitutional-ism is an essential ethical framework for balancing markets and democracy.Results: For capitalism, common good occurs through relatively free markets and limited government. For democracy, relatively broad-scope government strongly regulates markets and outcomes. Unrestrained democracy tends toward authoritarianism and socialism. Unrestrained capitalism tends toward inequal-ity and exploitation. To integrate capitalism and democracy, constitutionalism combines normative law with a system of checks and balances.Conclusions: Constitutionalism is the essential ethical dimension for keeping markets and democracy in balance. Business must have some relatively inde-pendent role rather than being subordinated to government. Authoritarianism and majoritarianism subordinate business to political preferences. Insufficiently regulated business abuses the common good.Consistency: The paper is consistent with the journal's purpose in addressing how business interacts with and affects society. Business owners and managers should support and promote constitutionalism. This conclusion is generalizable across national political systems.