What lies behind the surge in populist movements?
Book review: The Fate of the WestBill Emmott investigates why so many people are expressing open admiration for authoritarian leaders.
The assumption that "Western values" such as liberal democracy, free markets and globalisation would triumph over other political systems has been called into question recently. We've seen a surge in support for populist movements, and a significant section of the population expressing open admiration for authoritarian leaders. In this wide-ranging book, Bill Emmott, the former editor of The Economist, investigates what lies behind the shift.
After a short opening section looking at the problems of inequality and special interests, he moves on to trends within individual countries and regions, examines the impact of themes such as automation and an ageing population on society, and considers the rising influence of China and Russia. Finally, he presents the five main lessons that Western leaders need to take on board in order to restore trust in their model.
Emmott's solutions seem sensible, if a bit vague at times. He deserves credit for recognising that globalisation and openness need to have some sort of limit if they are to gain acceptance and makes interesting points about how well-intended policies can increase inequality. My only real criticism is that the book could have benefited from being a bit longer, as it tries to cram a lot of material into 200 pages.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.
He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.
Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.
As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.
Follow Matthew on Twitter: @DrMatthewPartri
-
François Bayrou appointed as France's new prime minister
François Bayrou becomes France's new PM after a no-confidence vote ousts Michel Barnier.
By Emily Hohler Published
-
South Korean won hits 15-year low
After Yoon Suk Yeol's failure to declare martial law, South Korean markets are reeling, with the weakest won since 2009. Will this worsen the Korea discount?
By Alex Rankine Published