4  Habermas (1992) argued that the validity of the political decision-making process can be secured by democratic discourse under circumstances facilitating "undistorted communication" among voters. 4  BIS Review 1/2008  on the policy possibility frontier.
The value of the former parameter is determined by voting, while the value of the latter parameter can be gauged from the instantaneous sacrifice ratio, by which I mean the inverse of the slope of the aggregate supply function in the macroeconomic analysis.