Capitalism and Democracy: The Populist Backlash

Author(s)	Dr. Manish Kumar
Country	India
Abstract	The 1990s began on a triumphalist note. The disintegration of Soviet Union and the end of Cold War produced a sense of optimism prompting some scholars to claim the end of history. The onward march of democracy and capitalism, it was seen then as evitable leading societies to embrace liberalism. In the following decades however many advanced democracies of the world witnessed a surge of the Populist resentment against the liberalism. The economic aftershocks produced in the wake of Great Recession and the global reconfiguration of the world economy resulting from the rise of the rest further contributed to the growing anxieties in the Western democracies. To make matters worse, notwithstanding its beneficial impact on promoting aggregate welfare, Globalization, the poster child of the 1990s, and the driving force behind the expansion of global capitalism, has been called into question. Liberalism indeed is showing signs of a visible stress.
Keywords	Capitalism, Liberal Democracy, Populism, Globalization, History, China, India
Published In	Volume 16, Issue 4, October-December 2025
Published On	2025-12-31
DOI	https://doi.org/10.71097/IJSAT.v16.i4.10031
Short DOI	https://doi.org/hbjmqh

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