Martin Wolf on the Crisis of Democratic Capitalism

02/14/23 • 50 min

I think democracy and capitalism are individually in crisis in that they're not working very well and that the combination of the two in one political and economic system, which we have come to think of as the Western Way, is in crisis not only because the two component parts are in crisis, but because they're in crisis interactively.

Martin Wolf
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A full transcript is available at www.democracyparadox.com.
Martin Wolf is the chief economics commentator at the Financial Times. He has written many books, but his most recent is The Crisis of Democratic Capitalism.
Key Highlights

Introduction - 0:51
The Link Between Democracy and Capitalism - 3:10
Does Capitalism Reinforce Democracy? 16:50
Status Anxiety - 26:13
Populism- 38:55

Key Links

The Crisis of Democratic Capitalism by Martin Wolf
Read Martin Wolf's writings at the Financial TimesFollow Martin Wolf on Twitter @martinwolf_

Democracy Paradox Podcast
Francis Fukuyama Responds to Liberalism’s Discontents
Larry Diamond on Supporting Democracy in the World and at Home
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02/14/23 • 50 min

Democracy Paradox - Martin Wolf on the Crisis of Democratic Capitalism

Transcript

The fall of the Berlin Wall was widely viewed as a triumph for democracy and capitalism. Around that time Francis Fukuyama referred to an end of history where liberal democracy had triumphed over the ideological alternatives. At the time most scholars saw democracy and capitalism as complementary. Today many portray democracy and capitalism in tension or even conflict. Obviously, some have always warned about the dangers to democracy from extreme forms of economic inequality. However, many als

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