Inequality Gap

Rethinking Prosperity

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The financial crisis wasn’t the trigger of the West's deep-seated insecurity, but one of its symptoms. AP / Steven Senne [M]

It’s been a quarter of a century since “The End of History.” At least, that was the title of Francis Fukuyama’s 1992 book that famously announced the conclusive victory of Western liberal democratic models.

There isn’t much of that confidence left today. Instead, many people have been seized by deep-seated insecurity, particularly in the West.

The reason for this insecurity lies in the growing discrepancy between economic successes on one hand and corresponding social benefit on the other. Individual citizens no longer automatically benefit when the economy is booming, just as the average employee can no longer be sure of their job just because their company is turning a profit.

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