The Single Resolution Mechanism and the Single Resolution Fund: Substantive Issues and the Contradictory Democratic Deficit

Author(s):  
Nicola Ruccia
2021 ◽  
pp. 016224392199910
Author(s):  
Nina Frahm ◽  
Tess Doezema ◽  
Sebastian Pfotenhauer

Long presented as a universal policy-recipe for social prosperity and economic growth, the promise of innovation seems to be increasingly in question, giving way to a new vision of progress in which society is advanced as a central enabler of technoeconomic development. Frameworks such as “Responsible” or “Mission-oriented” Innovation, for example, have become commonplace parlance and practice in the governance of the innovation–society nexus. In this paper, we study the dynamics by which this “social fix” to technoscience has gained legitimacy in institutions of global governance by investigating recent projects at two international organizations, the Organization for Economic Cooperation and Development and the European Commission, to mainstream “Responsible Innovation” frameworks and instruments across countries. Our analysis shows how the turn to societal participation in both organizations relies on a new deficit logic—a democratic deficit of innovation—that frames a lack of societal engagement in innovation governance as a major barrier to the uptake and dissemination of new technologies. These deficit politics enable global governance institutions to present “Responsible Innovation” frameworks as the solution and to claim authority over the coproduction of particular forms of democracy and innovation as intertwined pillars of a market-liberal international order.


2005 ◽  
Vol 13 (4) ◽  
pp. 525-540 ◽  
Author(s):  
FURIO CERUTTI

The rejection of the symbolically rather than institutionally innovative Constitutional Treaty in France and the Netherlands as well as the show of disunity in the European Council of mid June 2005 signal the end of a long cycle, culminating in the 1990s, in which the transformation of the European Union into a full-fledged political actor seemed to be possible. For decades ahead there will be no European polity capable of powerfully co-determining the governance of globalization. This was made possible by the rarely debated democratic deficit that makes one people or government decide on issues of general European interest and uncritically glorifies direct democracy, thus opening the door to populism.The comedy of errors which saw a majority of French citizens voting for domestic motivations, instead of focusing on the actual European issues go back to underlying troubles in contemporary democracy, but also to the contradiction inherent to the attempt to give the functional-bureaucratic EU of ‘Brussels’ a broad democratic legitimization. Rather than the now dead Constitution, it is the experience of the Europeans with common high-political acts of economic and security policy that may in the future foster their political identity in the framework of cultural diversity.


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