From the Globalized Market
to the Crisis of Western Democracies
A lecture by
Giovanni Bazoli, Università Cattolica, Milan
President, Fondazione Giorgio Cini, Venice
Hon. Chairman, Intesa Sanpaolo
Antonio Merlo, Dean of Arts and Science, NYU
Presented in collaboration with
The Colloquium in the Humanities
The fall of the Soviet Union in 1989 could have set off a new world order centered around the principles of liberalist democracies. The United States, then at the helm of the West, were unchallenged in their economic and political hegemony. However, they never found themselves able to strategically conceive a new global development.
Today, barely thirty years later, the tables appear to be turned. Ungoverned and unregulated globalization has led to particularly favorable conditions for the rise of autocratic powers with a negative effect upon democratic countries. In fact, economic and social inequalities have worsened, combined with adverse demographic tendencies that have led to a weakening of welfare states. The development of social media has paved the way for new forms of consensus manipulation.
In order to avoid an irreversible decline of the West, a new system of regulations is necessary to harmonize the free market with the fundamental values of democracy.
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