How inequality is undermining liberal democracy

Published in 1873, 'The Gilded Age: A Tale of Today' is a satirical novel that satirizes greed and political corruption in the United States during the late 19th century. The book follows the story of the Hawkins family and their attempts to improve their fortunes through land speculation. It also includes a parallel story about two young men, Philip Sterling and Henry Brierly, who seek their fortunes in similar ways. The novel is notable for its commentary on the social and political dynamics of the time, including themes of corruption, materialism, and the struggles of the era. The title 'The Gilded Age' has become synonymous with the period in American history from the 1870s to the late 1890s, characterized by its superficial glitter and underlying corruption.

In 'The End of History and the Last Man', Francis Fukuyama posits that with the ascendancy of Western liberal democracy following the Cold War and the dissolution of the Soviet Union, humanity has reached the end point of its ideological evolution. Fukuyama draws on the philosophies of Hegel and Marx, arguing that history is a linear progression towards liberal democracy, driven by the mechanisms of natural science and the human desire for recognition (thymos). He contends that liberal democracy satisfies every man’s thymotic longing for dignity and recognition, making it the final form of human government. However, Fukuyama clarifies that this does not mean the end of historical events or conflicts, but rather that all future developments will be within the framework of liberal democracy.