"Neoliberal theorists are, however, profoundly suspicious of democracy. ... Democracy is viewed as a luxury, only possible under conditions ofrelative affluence coupled with a strong middle-class presence to guarantee political stability. Neoliberals therefore tend to favour governance byexperts and elites. A strong preference exists for government by executiveorder and by judicial decision rather than democratic and parliamentarydecision-making. Neoliberals prefer to insulate key institutions, such asthe central bank, from democratic pressures. ..." (p.66).
An article in Tempo Magazine by Prof. William Liddle indirectly replied this criticism. Apologize if you can not access the article as it requires subscription, and in Indonesian. Prof. Liddle's article is actually about new economic team led by Dr. Boediono. But we can make a generalization of his arguments to answer the question whether a technocratic government is democratic:
- Technocratic government and independent central bank does not necessarily mean undemocratic. Their policies and actions will be monitored and evaluated. by the parliament members.
- The parliament members have the mandate to reject the policies offered by the technocrats.
P.S. Read also Alan Blinder, "Is Government Too Political?", Foreign Affairs, Nov/Dec 1997.