A World of Insecurity

The retreat of liberal democracy in the twenty-first century is impossible to ignore. From Wisconsin to Warsaw, Budapest to Bangalore, many citizens are turning against the values of pluralism and capacity of traditional liberal institutions to secure their demands.

Many believe these changes reflect the rise of inequality around the world over the last few decades. Critics of inequality argue that the rise of unapologetic nationalism and political majoritarianism in many liberal democracies is a predictable response to failures of capitalism in the neoliberal era.

Yet is inequality the culprit? Or is insecurity, financial and cultural, more to blame?

The eminent political economist Pranab Bardhan examines these themes in conversation with Sanjay Ruparelia.