CAN LIBERALISM LAST? DEMOGRAPHIC DEMISE AND THE FUTURE OF LIBERALISM

Abstract

AbstractLiberal political institutions have been an enormous boon for humanity. The free market aspect of liberalism has led to an explosion of innovation, ranging from new kinds of technology and novel forms of entertainment to advances in science and medicine. The emphasis on individual rights at the core of liberalism has increased our ability to explore new ways of living and to construct an identity of our own choosing. But liberal political institutions around the world are facing two crises: low fertility and declining social trust. In particular, liberalism’s focus on individual liberty rather than group cohesion can increase economic productivity by encouraging the free movement of people and capital, but this movement is associated with declines in social cohesion and fertility. In this essay, we highlight some challenges to the long-term evolutionary stability of liberalism. In other words, we raise the question: Can liberalism last?