What is the connection between modern democratic thought and globalization? This article examines the rationale behind the present crisis of democracy. It demonstrates that the problem facing modern democratic thought has less to do with the asymmetries associated with the forces of globalization and more to do with an asymmetry within popular sovereignty itself: the fact that the boundaries of democracy cannot themselves be democratically legitimated. By making this argument the article seeks to move beyond the contemporary opposition between nationalism (...) and cosmopolitanism. It shows that the appeal to globalization among contemporary political theorists to a large extent is analogous to the appeal to the nation during the French Revolution. (shrink)