INTRODUCTION

The world is in a unique and precarious position.  Debt is at unprecedented levels—425+% of GDP for advanced economies and 350+% of GDP for the global economy as a whole—which will hinder growth for all and impair the ability of advanced countries to react to challenges.  (COVID-19 stimulus had an impact but is not a major reason for the indebtedness.)  Meanwhile, a potential new world power, China, is challenging accepted norms on many fronts and the rest of the developing world is mostly stagnant.  All of this is happening against the backdrop of a world made smaller by advancing technology, bringing global challenges closer to home for everyone. 

One sign of the strain on the global order is the state of democracy itself which is being tested more so than at any time in the recent past.  The fact is, we have good reason to question our understanding of not only democracy but development in general.  In this content series we will take a fresh look at how democracy really develops, with an eye on prosperity and development in general.  We think our timing couldn’t be better.