Capitalism Depends on the Survival of Democracy

BY: JOHN MANZELLA

Democratic capitalist countries thrive with high standards of living, but face challenges that may harm their systems.

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Global economic issues fuel rising fear and anger, affecting even the wealthiest nations and eroding middle classes.

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Globalization is a double-edged sword, lifting millions out of poverty while leaving some behind due to unequal impacts.

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New technologies create and destroy jobs, but income inequality rises, impacting America's middle class and favoring skilled workers.

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Economic, social, and cultural factors fuel political shifts as fears of declining status and immigration resentment rise.

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Populists exploit dissatisfied voters, appealing to emotions, blaming elites, media, immigrants, and foreigners for economic inequality.

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Authoritarians consolidate power, undermine democracy, suppress dissent, and resist relinquishing office without resistance.

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Leaders' mix of populism and authoritarianism, varying in tone, reinforces each other, posing a potentially dangerous combination.

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