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Martin Wolf on saving democratic capitalism: resisting autocracy

FT News Briefing

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The Rise of Autocracy in Democratic Nations

This chapter examines the unsettling shift from democracy to autocracy in established nations like the US and UK, focusing on the socio-economic factors that fuel this trend. It highlights historical parallels, particularly with the 1930s, and discusses the impact of personal grievances and societal upheavals on individuals' allure to autocratic leadership. The chapter also addresses the chaos surrounding social movements, such as the LGBT+ rights march in Poland, illustrating how nostalgia for a perceived better past can lead to a longing for authoritarian solutions amid modern uncertainties.

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