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Martin Wolf on saving democratic capitalism: the ‘democratic recession’
FT News Briefing
The Minimum Irreducible Condition for a Liberal Democracy
The ability of the people to choose and replace their leaders in truly free and fair elections, period full stop. If you don't have a level playing field, and there's no decent chance for an opposition candidate to win, it would require a Herculean effort of the opposition with one hand tied behind its back,. That's not a democratic election. Sometimes, as with Milosevic in Serbia, you can have an unfair, undemocratic election than the opposition can prevail. But we should have no illusion that just because there's a serious contest, it means the election is a democracy. There are democracies around the world that don't do a very good job of maintaining the rule of
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