Adam Przeworski, a democratic theorist at New York University, suggested that democratic erosion in America begins with a breakdown in what he calls the “class compromise.” His point is that democracies thrive so long as people believe they can improve their lot in life. This basic belief has been “an essential ingredient of Western civilization during the past 200 years,” he said.
But fewer and fewer Americans believe this is true. Due to wage stagnation, growing inequalities, automation, and a shrinking labor market, millions of Americans are deeply pessimistic about the future: 64 percent of people in Europe believe their children will be worse off than they were; the number is 60 percent in America.
That pessimism is grounded in economic reality.
'via Blog this'