Why Capitalism Persists
Forumul Economic Mondial de la Davos
The world has entered an era of autopsies and prophecies. According to many scholars and commentators, the order that the United States presided over after the end of the Cold War is dead. After the Soviet Union imploded, many assumed that the defeat of communism would augur the ineluctable spread of both capitalism and democracy—all stewarded by the United States. But it is now liberal democracy that finds itself in crisis, with democratic backsliding common around the globe, public mistrust
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