MIT economist Daron Acemoglu's new book, 'What Happened to Liberal Democracy? Remaking a Politics of Shared Prosperity,' argues that deindustrialization and computer-driven automation since the 1970s split the workforce into well-paid college-educated workers and struggling less-educated ones, fueling political polarization and weakening democratic institutions. He calls for rebuilding 'working-class liberalism' — coalitions centered on shared prosperity, jobs, and public services — to reinvigorate democracy, while cautioning against top-down social engineering and neat 'social contract' solutions.
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