Martin Wolf’s new book analyses the West’s malaise
Martin Wolf's new book analyses the West's malaise
"The Crisis of Democratic Capitalism" is bleak but oddly comforting
The Economist,
The Crisis of Democratic Capitalism. By Martin Wolf. Penguin Press; 496 pages; $30. Allen Lane; £30
For anyone old enough to remember the fall of communism, recent history has been something of a shock. The triumph of liberal political and economic systems has been spoilt: by rich-country blunders, the rise of authoritarian China, and ultimately by a distressing loss of faith in democracy itself in what was once called the free world. This crisis of democracy looks less dire than it did a year or two ago, thanks to political change in America and missteps by China and Russia. But the danger has not passed, and the need to understand democracy's retreat remains urgent.
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