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Martin Wolf on saving democratic capitalism: the ‘democratic recession’
FT News Briefing
The Democratic Recession in the World
If the government owned everything, democracy would be almost impossible as you've defined it. So if you look at those conditions, and particularly the possibility of organizing an opposition, that would seem to imply some degree of economic decentralization. And one reason why we've seen a very dramatic changes, I think in the last two or three years, India has ceased to be a democracy. That is a very stunning and worrisome development.
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