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How the free-market fanatics made a mockery of democracy
Bryan Gould explains how the destruction of the postwar consensus by a small group of economists left thousands around the globe effectively disenfranchised

When Francis Fukuyama celebrated what he believed to be the more or less permanent triumph of liberal democracy as "the end of history" in his famous 1989 essay of that name, he saw the "free market" and democracy as not only compatible but as mutually supportive.

The market, more or less unfettered, was in his view the natural equivalent in economic terms of political democracy, achieving the same dispersal of economic power throughout society as democracy achieved in political terms.

He saw no need for democracy to act as a restraint on the economic outcomes determined by the market and he saw no danger that the "free market" might in some ways prove inimical to effective democracy.

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