The Democratic Regression: The Rise of Autocracy and Its Threat to Free Markets
About this episode
The episode discusses the regression of global democracy and its implications for free markets, highlighting various political shifts and challenges.
In this episode of Trading Up Unpacked, hosts Jim Fitzpatrick and Richard Ramsey dissect the startling findings of the V-Dem report, which reveals that global democracy has regressed to 1978 levels, virtually erasing late-20th-century gains. For decades, the western assumption has been that democracy and free markets go hand-in-hand to deliver economic progress. However, with autocratic nations now outnumbering democracies, this traditional model is under severe pressure. The hosts examine the global shift toward autocracy, highlighting democratic erosion in the US, where Donald Trump has challenged independent institutions like the Federal Reserve and the media. They also analyse the political fightback in Hungary, where Viktor Orbán's long-standing rule has been ended by Péter Magyar's democratic revolution. Finally, the conversation contrasts the perceived economic stability of autocratic China with local political stagnation and a lack of delivery at Stormont in Northern Ireland. If democracy wants to survive, can it prove it still delivers? Brought to you in association with EY. The views and opinions expressed by guests on this podcast are their own and do not reflect the…
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