Can Democracy Cope?

Abstract

The success story of democracy over the twentieth century has given way to doubts in the twenty‐first, as democracies struggle to cope with difficult wars, mounting debts, climate change and the rise of China. This essay uses intellectual history to explain the link between long‐term democratic success and short‐term democratic failure. It distinguishes three distinct views of what can go wrong with democracy, and identifies the third (which I call ‘the confidence trap’, an idea that originates with Tocqueville) as the key to understanding our present predicament. Democratic success creates blind spots and a reluctance to tackle long‐term problems. I use this idea to explain and put in context Fukuyama's claims about the end of history, and to examine the link between democratic failure and market failure.