Markets and Democracy

Even schoolchildren learn about the paradoxes of democracy, yet western political debaters still proclaim it as a universal virtue, to the extent of seeking voting and equality in companies, too. Meanwhile large swathes of the world seem to be managing very well without democratic rule or redistributive justice. Which is the way forward?

In a sweeping review of history and economics, Björn Wahlroos points to the achievements that have shaped our times, but also to the traumatic cul-de-sacs and false conclusions that overshadow our thinking and damage our prosperity in the 21st century.

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