Summary
Highlights
Stewart outlines a period marked by the fall of the Berlin Wall, the doubling of democracies globally, increased peace, and unprecedented prosperity. This era was characterized by political consensus, free global markets, a belief in the inherent link between democracy and prosperity, the moral legitimacy of the West, and the vision of a universal liberal global order.
This period saw the rise of social media which fractured consensus, the 2008 financial crisis which discredited free markets, and the rise of China which challenged the link between prosperity and democracy. The moral legitimacy of the West was questioned by movements like Black Lives Matter and growing environmental concerns, highlighted by the failures in Iraq and Afghanistan, contrasting sharply with China's Belt and Road Initiative.
Beginning around 2014, the world entered an age of accelerating populism. This was exemplified by the rise of ISIS, Narendra Modi in India, and a transformed Erdogan in Turkey. In Latin America, figures like Bolsonaro emerged, further demonstrating the shift away from technocratic centrism. Donald Trump became the embodiment of this populist era, characterized by extreme political polarization and a rejection of global market principles.
The underlying assumptions of the 1990s liberal order crumbled. Consensus gave way to a U-shaped political landscape, with votes congregating at the extremes. Faith in global free markets diminished, leading to protectionist policies. The number of democracies began to decline, with some nations prioritizing prosperity over democratic values (e.g., El Salvador, Saudi Arabia). The West's moral legitimacy was increasingly questioned, fueling populist narratives against discredited elites. This era also saw a sharp increase in isolationism, evidenced by significant cuts to international aid budgets.
Stewart proposes an Aristotelian framework to address these challenges. He suggests moving beyond the 'boring' technocratic consensus and the 'hysterical' populist emotions to find a 'golden mean' through empathy (pathos). For economic systems, he advocates for practical reason (logos) over universalizing jargon or irrational denials of facts, emphasizing solutions embedded in local contexts and addressing deep structural injustices. Democracy, he argues, should be seen not merely as an instrumental tool for economic goods, but as having intrinsic moral virtues (ethos). Finally, he introduces 'eudaimonia' (flourishing) as a communal activity combining ethical and practical considerations, and 'eualpsis' (good hope), which acknowledges failure and fear but maintains courage, offering a rooted and granular hope that avoids both naive optimism and profound pessimism.
Stewart addresses the issue of intergenerational inequity, highlighting that younger generations believe they will be worse off. He points out that inequalities in wealth (especially property ownership) are more significant than income disparities. He discusses the unsustainable assumption of infinite growth in aging societies, the regressive nature of current climate policies, and the political impossibility of implementing necessary radical changes like wealth taxes. He concludes that gaining consent through democratic processes, though slower, is ultimately more sustainable for tackling major challenges like climate change than autocratic approaches.
Reflecting on his own political future, Stewart emphasizes the immense importance of current issues and his search for effective ways to drive change. He expresses strong support for citizens' assemblies, viewing them as valuable tools for consensus-building and finding common ground, as demonstrated by their success in Ireland's abortion debate. He believes they offer a more balanced approach than parliamentary debates, moving beyond partisan agendas to address complex issues like Brexit with greater wisdom and legitimacy.
Stewart sees the war in Ukraine as ushering in an 'age of global conflict,' challenging complacent assumptions of the liberal order and clarifying an emerging Cold War between the US and China. He warns that decoupling from the Chinese economy would be far more disruptive than from Russia, given China's critical role in global supply chains (e.g., semiconductors) and as a market for European goods. He advocates for a strategy of 'de-risking' with China, which involves both building resilience (not putting all eggs in one basket) and actively engaging to lower the risk of confrontation.