PRESIDENT'S ESSAY
Populist ricochet
POSTED
March 24, 2009

Ross Douthat writes, “If the Western leadership class survives the current crisis, after all, the lesson they’re going to draw from it is relatively simple: We must never let this happen again . And while that impulse could be a spur to greater decentralization and democratization, it’s more likely to be produce greater supranational regulation, more expansive bureaucracy, and a more hand-in-glove relationship between big government and big business than existed before the crisis. In theory, one way to respond to a ‘populist whirlwind’ would be to make governments more accountable to the voting public. But in practice, I suspect, the more likely response will be to build stronger dikes and firewalls against the dangerous and unpredictable masses, producing post-crisis institutions that are even more insulated from democratic accountability than they were before.”

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