The threats to American democracy may run deeper than just one man’s populist appeal

Winston Churchill  “democracy is the worst form of Government except for all those other forms that have been tried from time to time.” 

He uttered those words in the House of Commons in 1947

Is there a political economy of democratic self-destruction via excessive debt and inflation? 

That old idea looks more compelling these days, as the federal debt piles up and inflation, though declining, remains well above the Federal Reserve’s target of 2% on average. 

Even if inflation keeps falling, the same will not be true of the national debt 

Niall Ferguson Bloomberg 16 July 2023

https://www.bloomberg.com/opinion/articles/2023-07-16/is-biden-right-that-us-democracy-is-beating-china-and-russia

Martin Wolf “The Crisis of Democratic Capitalism” Årets viktigaste bok

https://englundmacro.blogspot.com/2023/02/martin-wolf-crisis-of-democratic.html