Check out this blog. The Market State.
The title draws from Philip Bobbit’s scheme of the development of the state, from the Princely State, to the Kingly State, to the State-Nation, to the 20th century Nation-State, and then from the 1990s on to the Market State: ( here’s the blog’s definition):
“The “Market State” is the latest constitutional order, one that is just emerging in a struggle for primacy with the dominant constitutional order of the 20th century, the nation-state.
Here are some further quotes
Democratic State vs Market State
“Liberal democracy has traditionally meant a self-governing representative system comprised of individual citizens who enjoy freedom and equality under law and together form a people within a liberal democratic nation-state. Thus, liberal democracy means individual rights, national citizenship, and democratic representation.”
“As the traditional politics of interstate rivalries cedes place to the global market, (democratically elected*) governments lose unique attributes of their power. Armies and territory count for less.”
Bobbitt: “the democratic, representative, deliberative state is slow-moving and cumbersome just the sort of institution one wants where human rights are at stake or in a society where it is difficult to achieve consensus across many cultural communities but one that is deadly to innovation and the nimble reactions required to take advantage of changes in the marketplace.”
(So a sleek, fast moving, non-democratic, technocratic corporatocracy unconcerned with any “human rights” is apparently what is required to adapt to the global market, instead of the “cumbersome representative democracy”*)
Whereas the nation-state based its legitimacy on a promise to better the material well-being of the nation, the market-state promise to maximize the opportunity of each individual citizen (or rather that is the way hired PR firms and think-tanked propagandists sell it to the public – the real goal is of course to maximize the profits of investors, bankers and global corporations*).
“When we call a capitalist society a consumers’ democracy we mean that the power to dispose of the means of production, which belongs to the entrepreneurs and capitalists, can only be acquired by means of the consumers’ ballot, held daily in the marketplace.” Ludwig von Mises
The influence you will have and the amount of “democracy” available to you in a “consumer democracy” is totally dependent on how much capital you have at your disposal and the amount of goods you consume. The means of production is relocated, many times to dictatorships, and owned by foreign oligarchs, far beyond any real democratic control.