Western elites have overstretched themselves in many ways (domestically and internationally) over the last few decades.
They need to realise that they have less room to push through their favourite policies than they think.
If they don't, they might have to cede power to less appealing forces.
They need to realise that they have less room to push through their favourite policies than they think.
If they don't, they might have to cede power to less appealing forces.
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I've been much less impressed by Draghi's recent proclamations than most commentators.
Instead, national political elites have interests that do not perfectly align with the population, which explains much of the institutional deadlock.