Democratic Capitalism and Its Discontents

Despite its victory over the messianic creeds of communism and national socialism, democratic capitalism, the economic-political system that has provided the nations of the West with an unprecedented degree of prosperity and freedom, faces extraordinary challenges in the new millennium. Not only has a fanatical form of Islam disrupted the peace of the postcommunist era, which some had wrongly heralded as the “end of history,” Western societies also remain haunted by internal demons: egalitarian fantasies, moral libertinism, an arid and unsustainable secularism, a suicide of culture.

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