The fate of liberal democracy now depends on whether we are able to formulate a reformist, forward-looking vision for a better politics.
Yascha Mounk Executive Director, Renewing the Centre
Data shows that while globalisation has benefited millions around the world and reduced inequality at a global level, it has also increased inequality at a domestic level. In particular, many people in the West have experienced decades of minimal wage growth even as public and private debt levels have dramatically increased, prompting a debate among economists about the idea of “secular stagnation.”
To confront the challenge posed by populism, and live up to the democratic promise of rising living standards for the bulk of the population, we therefore need to investigate how to foster economic growth in advanced economies that is both inclusive and sustainable. Is it necessary to rethink what Dani Rodrik has called “hyper-globalisation”? What measures can be taken at the domestic level to mitigate the negative effects of globalisation? In short, what does “progressive globalisation” look like?