Martin Wolf’s new book “The Crisis of Democratic Capitalism”

 A dean of financial journalism, he has for decades been the chief economics commentator of the Financial Times. “The Crisis of Democratic Capitalism” draws on the wisdom accumulated over his distinguished career—and argues that most of the blame for the democratic recession belongs to a record of dismal economic performance. 

The case he makes is authoritative and compelling. Yet in the end it is not fully convincing.

Mr Wolf’s review of recent history will jolt even the well-informed. 

Governments of all sorts have become less accountable to the public.

The shock of the global financial crisis of 2007-09 turned the accumulating discontent into seething anger at governing elites and a loss of trust in the system. 

It reassures readers that what has gone wrong is known, and all that is needed to repair the situation is a bit of competent technocracy.

But desirable as comfort may be—and, for that matter, competent technocracy—it is hard to shake the feeling that something more profound has happened to the world’s great democracies. 

The Economist 2 February 2023

https://www.economist.com/culture/2023/02/02/martin-wolfs-new-book-analyses-the-wests-malaise