The Crisis of Democratic Capitalism
The Crisis of Democratic Capitalism is a wise and rigorously fact-based exploration of the epic story of the dynamic between democracy and capitalism. According to Martin Wolf, one of the wisest voices on global economic issues, citizenship is not just a slogan or a romantic idea; it’s the only idea that can save us. Around the world, powerful voices argue that capitalism is better without democracy; others argue that democracy is better without capitalism. This book is a forceful rejoinder to both views.
PRAISE FOR THE BOOK
”Unlike many progressives, Wolf’s battle cry is not to tear down institutions and topple those who run them. Rather, it is to demand that his fellow elitists make good on the responsibility that goes with their privilege.”
—The Washington Post
“Martin Wolf has been an incisive commentator on economics and politics for a long time. This book is an excellent and thought-provoking synthesis of his views on democratic capitalism and how to fix it.”
—Ben Bernanke, former chair of the Federal Reserve
“Martin Wolf brings together many decades’ worth of thought and analysis into this superb synthesis. An important guide for anyone seeking answers to the most difficult questions of our time.”
—Anne Applebaum, The Atlantic staff writer and author of Twilight of Democracy
”Wolf’s recommendations are smart and sensible and perhaps not too late. A must read for both optimists and pessimists.”
—Sir Angus Deaton, winner of the 2015 Nobel Prize in Economic Sciences
“To defend the values of freedom and dignity, democracy and capitalism must both be reformed. A necessary book—and a guide—for our times.”
—Daniel Ziblatt, professor, Harvard University, and coauthor of How Democracies Die
“The arrival of this book could not be timelier as the global economy darkens further. Who better than Martin Wolf, with his masterful knowledge of history and understanding of economics, to identify the twin threats of predatory capitalism and demagogic politics and to plot a narrow corridor to escape? It takes someone with a knowledge of the entire forest to isolate the rot at the base of the trees.”
—Carmen M. Reinhart, professor of economics, Harvard University