Liberal Capitalist Democracy

- Blurb -

A spectre is haunting Europe and America: the spectre of anti-democratic, right-wing nationalism. This has finally exposed as ill- based the astonishingly widely shared belief that unleashing capitalism will, sooner or later, lead societies to democratic politics. It' s nothing more than the big liberal myth. Krishnan Nayar explores the history of six major pioneers of modernity-Britain, America, France, Germany, Russia and Japan- from the seventeenth century' s Cromwellian revolution to Donald Trump' s election, via the Age of Darwinian Capitalism: the pre-Second World War, pre-consumerist, pre-welfare state capitalism of severe economic instability and a penurious working class. Nayar shows that, in this period, capitalist industrialisation was far more likely to lead to modernised right-wing autocracy than democracy, which got a chance thanks simply to fortunate circumstances in a few countries. Capitalism only underpinned democracy in the post-war period due to transient factors: post-1945 Western welfare systems owed their existence and character almost entirely to the challenge posed by the Russian and Chinese revolutions. The return of large-scale, extremist right-wing politics should not, therefore, come as a surprise. As autocratic China grows in strength, and Russia returns to expansionism, can democracy be rescued from a capitalism of dire instability and inequality?