Our elites have not suddenly become morally abhorrent; the financial globalization that [Martin] Wolf championed has allowed them to remove themselves from democratic accountability, state regulation, and communities of obligation. It has also decimated countervailing powers such as organized labor, working-class political parties, and capital controls. The market never was “permeated” by the values of duty, fairness, and decency: it was constrained by nonmarket forces. Wolf has spent his career arguing that reason and freedom demanded the removal of those constraints. And here we are.

Trevor Jackson (2025, January 16). Never Too Much [Review of the book The Crisis of Democratic Capitalism, by Martin Wolf]. The New York Review of Books.