Since its inception, liberalism has offered a shining promise of shared prosperity, equality, democratic values, and the freedom to seek education. At first, it flourished, then declined. After being an attractive beacon of hope, it began to erode and fade due to elitism, fanaticism, and growing tyranny.
It can be said that liberalism has collapsed. So what next?Daron Acemoglu, Nobel laureate and co-author of Why Nations Fail, traces the rise and fall of liberal democracy and offers a hope for the way forward: a new theory that lays the foundations for how liberalism can be rebuilt—and why it should—before it's too late.
