Liberal democracy may be the only socio-economic system left standing on the modern world stage, but that hardly insulates it from serious challenges from within, according to Francis Fukuyama.
Communism has receded as an economic challenger and even states such as China that offer expanding economic opportunity to its people in return for obedience to one-party rule are finding it harder to retain control. Liberal democracy is in the global wind.
However, in his new book, "Political Order and Political Decay," Fukuyama explores how you can lose while winning. He suggests America's political development is going in reverse — and not in ways that the federal government's sharpest critics allege.
Fukuyama describes the decline with an American government that is weaker, less efficient and more corrupt — not bigger. The evidence of decline, he says, can be seen in a government unable or unwilling to tackle major challenges, while submitting itself to the will of well-heeled special interests at the expense of a population experiencing widening income inequality.
In his earlier work, "The Origins of Political Order," Fukuyama said liberal democracy rests on three pillars – fair, multiparty elections; political accountability; and the rule of law. His latest work suggests that elections alone don't guarantee a liberal democracy and that their value can be undermined by resulting political dysfunction and chipping away at who actually can vote.