11
Jan

The Future of History

Written on January 11, 2012 by Ángeles Figueroa-Alcorta in Culture & Society, Democracy & Human Rights, Globalization & International Trade

Can Liberal Democracy Survive the Decline of the Middle Class?

By Francis Fukuyama

Source: http://fukuyama.stanford.edu

Something strange is going on in the world today. The global financial crisis that began in 2008 and the ongoing crisis of the euro are both products of the model of lightly regulated financial capitalism that emerged over the past three decades. Yet despite widespread anger at Wall Street bailouts, there has been no great upsurge of left-wing American populism in response. It is conceivable that the Occupy Wall Street movement will gain traction, but the most dynamic recent populist movement to date has been the right-wing Tea Party, whose main target is the regulatory state that seeks to protect ordinary people from financial speculators. Something similar is true in Europe as well, where the left is anemic and right-wing populist parties are on the move.

There are several reasons for this lack of left-wing mobilization, but chief among them is a failure in the realm of ideas. For the past generation, the ideological high ground on economic issues has been held by a libertarian right. The left has not been able to make a plausible case for an agenda other than a return to an unaffordable form of old-fashioned social democracy. This absence of a plausible progressive counter­narrative is unhealthy, because competition is good for intellectual ­debate just as it is for economic activity. And serious intellectual debate is urgently needed, since the current form of globalized capitalism is eroding the middle-class social base on which liberal democracy rests.

THE DEMOCRATIC WAVE

Social forces and conditions do not simply “determine” ideologies, as Karl Marx once maintained, but ideas do not become powerful unless they speak to the concerns of large numbers of ordinary people. Liberal democracy is the default ideology around much of the world today in part because it responds to and is facilitated by certain socioeconomic structures. Changes in those structures may have ideological consequences, just as ideological changes may have socioeconomic consequences.

Almost all the powerful ideas that shaped human societies up until the past 300 years were religious in nature, with the important exception of Confucianism in China. The first major secular ideology to have a lasting worldwide effect was liberalism, a doctrine associated with the rise of first a commercial and then an industrial middle class in certain parts of Europe in the seventeenth century. (By “middle class,” I mean people who are neither at the top nor at the bottom of their societies in terms of income, who have received at least a secondary education, and who own either real property, durable goods, or their own businesses.) Read more…

As published in Foreign Affairs ( January/February 2012 Print Edition)

Comments

Pablo MIR January 13, 2012 - 4:28 pm

It depends on your notion of history.I do not believe thathistory has a final destination in Hegelian terms.I believe in Edward´s Gibbon vision contained in Decline and Fall of the Roman Empire.We are coming back to the 30´s.The result will be a new order.However revolutions take time.

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