When and why did liberal democracy stop working for the many? On Downstream this week is Daron Acemoglu, joint recipient of the 2024 Nobel Prize in Economic Sciences, whose 2012 book Why Nations Fail has sold over a million copies.

He talks to Aaron Bastani about his data-packed new book, What Happened to Liberal Democracy?, which seeks to diagnose and remedy democracy before it’s too late. They talk about the transition to a post-industrial economy, the loss of community, how progressive politics became overrun by middle-class interests, and how AI further threatens our capacity to self-govern and lead flourishing lives.

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