Markets & Democracy

(i) Martin Wolf (2016). “Democratic capitalism is in peril”, Financial Times, 31st August, 2016.
(ii) Helen Milner (2021). “Is global capitalism compatible with democracy? Inequality, insecurity, and interdependence”, International Studies Quarterly.

1) What, according to Martin Wolf, are some features of liberal democracy? (1 mark) (word limit: 25)
2) What, according to Wolf, has played a role in legitimising capitalism in the past? (1 mark) (word limit: 25)
3) Helen Milner uses the term “illiberal democracy”; what are the hallmarks of illiberal democracies? (1 mark) (word limit: 50)
4) Helen Milner uses the term “populism”; describe the characteristics of populism (2 marks) (word limit: 100).