To keep democracy afloat and make sure it’s viable over a long period of time, you need to have a middle class.
Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth
Setup
Around the world, people who are angry at stagnant wages and growing inequality have rebelled against established governments and turned to political extremes. Liberal democracy, history's greatest engine of growth, now struggles to overcome unprecedented economic headwinds — from aging populations to scarce resources to unsustainable debt burdens. Democracies risk falling prey to nationalism and protectionism that are historically proven to deliver declining living standards. Internationally acclaimed economist Dambisa Moyo presents a radical blueprint for change that will galvanize growth and ensure the survival of democracy in the 21st century.
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