Can Capitalist Democracy Survive?
For two generations after World War II, the constructive coexistence of capitalism and democracy was largely taken for granted in developed countries – including the former Axis powers.
This deep-seated complacency was reinforced by the collapse of the Soviet Union.
But the 2008 global financial crisis put an end to faith in the supposed inevitability of liberal economics and democratic politics.
WILLIAM H. JANEWAY Project Syndicate Sep 20, 2019
The financial crisis persuaded voters that they were governed by aloof, incompetent, self-serving elites.
Wall Street and the City of London were bailed out while ordinary people lost their jobs, their houses and their sons and daughters on the battlefield in Iraq and Afghanistan.
https://www.economist.com/leaders/2019/08/29/the-corrupting-of-democracy
This deep-seated complacency was reinforced by the collapse of the Soviet Union.
But the 2008 global financial crisis put an end to faith in the supposed inevitability of liberal economics and democratic politics.
WILLIAM H. JANEWAY Project Syndicate Sep 20, 2019
The financial crisis persuaded voters that they were governed by aloof, incompetent, self-serving elites.
Wall Street and the City of London were bailed out while ordinary people lost their jobs, their houses and their sons and daughters on the battlefield in Iraq and Afghanistan.
https://www.economist.com/leaders/2019/08/29/the-corrupting-of-democracy
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