Beware of this deadly mix: oligarchic economics and racist, nationalist populism

A treacherous alliance is growing that will undermine democratic institutions in the US and elsewhere

‘Capitalism is consistent with democracy only if democracy reduces the inequalities and poverty that accompany unbridled profit-seeking.’

The United States presents itself as the beacon of democracy in contrast to the autocracies of China and Russia. Yet American democracy is in danger of succumbing to the same sort of oligarchic economics and racist nationalism that thrive in both these powers.

After all, it wasn’t long ago that Donald Trump — who openly admired Xi Jinping and Vladimir Putin — encouraged racist nationalism in America while delivering much of the US government into the hands of America’s super-rich.