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What Happened to Liberal Democracy?

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What Happened to Liberal Democracy? is a major work of political economy and contemporary political thought by Nobel Prize-winning economist Daron Acemoglu, co-author of Why Nations Fail. The book examines the rise, decline and possible renewal of liberal democracy. Acemoglu begins with the original promise of liberalism: a political and economic system capable of delivering shared prosperity, equality, individual freedom, democratic values and the advancement of knowledge. According to his argument, however, this promise has weakened as liberal societies have become increasingly affected by economic inequality, political elitism, intolerance and authoritarian tendencies. 

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