Democratic capitalism is running on fumes

The ‘marriage’ of democracy and capitalism is falling apart, allowing vulture-like populists to feed on public discontent, says economist Martin Wolf in his new book

Protesters outside the US Supreme Court on Dec 7, 2022, as the court heard arguments in Moore v Harper, a case that could fundamentally alter the way democracy operates in the US. PHOTO: AFP
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As the chief economics correspondent of the Financial Times since 1996, Martin Wolf is one of the world’s most influential economists. He started his journalistic career as a vigorous advocate of globalisation and deregulation, but since the global financial crisis, his mood has darkened.

His new book, The Crisis Of Democratic Capitalism, is both his magnum opus and an explanation of his crisis of faith.

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