Saturday, October 5, 2024

Assessing the Crisis of Western Democracy: Case Studies of France and the United Kingdom

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The Crisis of Western Democracy

Observers of elections in industrialized Western countries are witnessing a trend that signals a profound crisis in governance and administration, leading nations to a potential dead-end. In modern democracies, the electoral process appears to have become a goal in its own right, instead of a means to achieve the common good. This shift towards populist appeasement has made crises an inevitable outcome.

Case Studies: France and the United Kingdom

France and the United Kingdom serve as prime examples of this emerging crisis. France’s latest elections resulted in a political stalemate marked by intense polarization, indicative of a society struggling to muster the collective will necessary to navigate out of crises, especially those economic in nature. On the other hand, in the UK, the elections saw the Labor Party winning not due to its economic policies, which remain questionable, but rather because of widespread dissatisfaction with the Conservative Party.

Both nations are grappling with severe economic downturns, exacerbated by their politicians. France’s public debt has soared to 110.7% of its GDP, while the UK’s debt reached 99.8% in 2024, a height unseen since 1961 after the loss of its overseas possessions. This burgeoning debt underscores a reluctance to face reality and adjust living standards to match productive capacities, instead relying on unsustainable public borrowing at the future generation’s expense.

The Pitfalls of Democracy in Crisis

The democratic process has morphed into a popularity contest, where success and maintenance of power depend on pandering to public sentiment, ignoring the critical warning that a debt surpassing 50% of a nation’s economic output is cause for alarm. The fear is that France could follow Greece into a crippling financial crisis if the right-wing parties implement their proposed economic policies without the possibility of a bailout, given France’s larger economy.

In the UK, the Labor Party’s inevitable tax increases to cover their spending promises will likely spark public unrest once the brief “honeymoon” period post-election ends. Western prosperity, historically boosted by colonialism and not necessarily by administrative excellence, is now challenged by the need to live within means, a concept foreign to current political maneuvers focused more on election wins than on sustainable governance.

Lessons from History

The aftershocks of populism are vividly felt in the UK’s Brexit, a movement that severed valuable economic ties under the guise of national sovereignty, resulting in increased costs and reduced agricultural output. Previous economic availabilities are now lost due to the xenophobic rhetoric of “protecting our borders,” with the country forgoing the once bountiful benefits of being part of the European market.

Britain’s new leadership under Keir Starmer faces stiff opposition and narrowed options in reconnecting with Europe, signaling a harsh lesson: national wealth cannot indefinitely be supplemented by external sources. Politicians, driven by the short-term goal of election success, often overlook this, burdening future generations with heavy debts to secure their position in power. The distinction between a politician and a statesman is clear; one looks to the next election, while the other to the next generation.

Conclusion

The crisis of Western democracy underscores the urgent need for a shift in political culture from short-term electoral victories to long-term sustainable governance. Nations cannot thrive on past glories or the exploitation of external resources forever. As societies confront these realities, the path towards a more responsible and foresighted approach to governance appears both challenging and necessary for the stability and prosperity of future generations.

Alexandra Bennett
Alexandra Bennetthttps://www.businessorbital.com/
Alexandra Bennett is a seasoned business journalist with over a decade of experience covering the global economy, finance, and corporate strategies. With a Bachelor's degree in Economics and a Master's in Business Journalism from Columbia University, Alexandra has built a reputation for her insightful analysis and ability to break down complex economic trends into understandable narratives. Prior to joining our team, she worked for major financial publications in New York and London. Alexandra specializes in mergers and acquisitions, market trends, and economic

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