The Crisis of Democratic Capitalism

Martin Wolf brings together many decades’ worth of thought and analysis into this superb synthesis. An important guide for anyone seeking answers to the most difficult questions of our time.
The Crisis of Democratic Capitalism will reach a wide and powerful audience. It will be read by world leaders and CEOs. If it convinces some of them to change tack, away from the plutocratic path that national and international economies are currently on, then we should all be grateful. * New Statesman *
a cri de coeur … This book, impressively researched, is … a mine of information for anybody wanting to know about the forces driving the global economy in recent decades … Democracy is the worst form of government - except for all the others, as Churchill once said. And the same is true of capitalism relative to other forms of economic organisation. Fixing both is the task. * Sunday Times *
The book’s power lies in Wolf’s central perception and the scale of the canvas he uses to illustrate it. The problems he describes - inequality, lack of social mobility, slowing productivity gains, the influence of money over politics, disaffection with democracy - are familiar, but by identifying them collectively as causes of the calamity he foresees, he gives new urgency to the need to address them. * The Times *
Martin Wolf is one of the world’s most influential economists … His new book, The Crisis of Democratic Capitalism, is both his magnum opus and an explanation of his crisis of faith. … Wolf argues that democracy and capitalism are complementary opposites: Opposites because capitalism depends on inequality of rewards while democracy depends on political equality, complementary because they both enshrine the principle of individual choice. But in recent decades this marriage of opposites has been falling apart, most importantly in the supposed standard-bearer of democratic capitalism, the United States. … a penetrating analysis of Western society’s ills * Bloomberg *
The Crisis of Democratic Capitalism draws on the wisdom accumulated over his distinguished career… The case he makes is authoritative and compelling. * Economist *
The Crisis of Democratic Capitalism will reach a wide and powerful audience. It will be read by world leaders and CEOs. If it convinces some of them to change tack, away from the plutocratic path that national and international economies are currently on, then we should all be grateful. * New Statesman *
Martin Wolf shines a light on the doom loop of democratic capitalism … in his fine new book * Financial Times *

Martin Wolf is Chief Economics Commentator at the Financial Times. He was a member of the UK’s Vickers Commission on Banking, which reported in 2011. He holds an honorary doctorate at the London School of Economics and is an honorary Fellow of Nuffield College, Oxford. He is a member of the International Media Council of the World Economic Forum. In 2000, he was awarded the CBE for services to financial journalism and in 2019 won the Lifetime Achievement Award at the Gerald Loeb Awards. His books include The Shifts and the Shocks, Fixing Global Finance, and Why Globalization Works.

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