I was raised in an age of liberal triumphalism. Liberal democracy won the 20th century — imperialism, fascism, and communism all collapsed, and by the end of the century the U.S. and its democratic allies in Asia and Europe were both economically and militarily ascendant. Even China, which remained an autocracy, liberalized its economy and parts of its society during this time. Even scholars who turned up their noses at Francis Fukuyama’s “end of history” were generally favorable to arguments that capitalism and/or liberal democracy fostered peace, happiness, and prosperity. There was an overwhelming sense that freedom — the freedom to speak your mind, to live as you liked, to buy and sell what you wished — was the thing that won.
Just two decades later, that idea is deeply in doubt. The wave of democratization and social liberalization went into reverse. The U.S. has been riven by social and political chaos, and its weaknesses in manufacturing and homebuilding have been starkly exposed. Meanwhile China, the ascendant superpower of the early 21st century, has moved back toward a more dirigiste economy and a more totalitarian society under Xi Jinping.