“Today's
liberal democracies are the most successful societies in human history, in
terms of prosperity, freedom and the welfare of their peoples. But they are
fragile. Resting on consent, they require legitimacy. Among the most important
sources of legitimacy is widely shared prosperity. A big part of the reason for
the erosion of trust in elites has accordingly been a long-term relative
economic decline of significant parts of the working and middle classes,
worsened by economic shocks, notably the global financial crisis.”—British
journalist and economics commentator Martin Wolf, “In Defence of Democratic
Capitalism,” The Financial Times, Jan. 21-22, 2023
The image
of Martin Wolf that accompanies this post, from the 2015 Crawford Forum, was
taken June 29, 2015, by AH1P1295.
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