
Books
Is our democracy in peril?
“Who isn’t afraid of Martin Wolf?” asks Emma Duncan in The Times. The FT columnist is the most important economics commentator in Britain, arguably the world. And in a new book, he has a chilling warning for the global elite: unless they change their ways, “the end is nigh”. Wolf’s theory is that the “benign marriage” between capitalism and liberal democracy is falling apart. Since the Second World War, the two systems have complemented each other: globalisation made everyone richer, which “fertilised the ground” for liberal democracy to spread beyond the West. The Soviet Union, which offered the only serious alternatives to capitalism and democracy, collapsed.