The Crisis of Democratic Capitalism by Martin Wolf published by Institute for New Economic Thinking (11/2021).
“In a liberal democracy — a democracy characterised by individual civil rights, the rule of law and respect for both the rights of the losers and the legitimacy of the winners — fair elections determine who holds power.
Attempts by a head of government and state to subvert the election or overturn the vote are simply treason. Yet that is what Donald Trump attempted to do both before and after last year’s presidential election.
He failed. Decent and brave people ensured that. But this story has only begun.
Trump continues to hold the loyalty of his party’s base and so to control its leaders.
Meanwhile, conservative stalwarts, such as Liz Cheney, have been defenestrated. Her crime? Stating that Trump’s Big Lie that the outcome of the election was a Big Lie is a big lie.
The fact that Trump is lying is not news. What is news is that, shorn of public office, Trump continues to define truth for his party.
There is a German word for a political organisation in which the duty of members is loyalty to a leader who alone defines what is true: it is Führerprinzip…”
