Discussions of the threat to liberal democracy have neglected perhaps the most surprising source that is one of the major arcs of history of the last three decades: globalization. It promised the promotion of liberal democracy encapsulated in neoliberal economics whose components include free movement of capital and finance, free trade, free movement of people, and the free transfer of ideas through social media. While globalization has achieved many of these four freedoms, it has also fostered its precise opposite: a borderless world that has stripped the principal source of political democracy – the nation state -- of much of its political and economic legitimacy for the liberal democracy that created globalization. Governments became weakened by the very fraying of its borders wrought by a globalization they promoted.
The Economist has attributed the term "deglobalisation" to Walden Bello. Whilst the magazine considers the term a negative one, Bello argues that it is fast becoming a reality and offers a paradigm for escaping the neoliberal straitjacket.
The triumph of liberal ideas turned Eastern Europe into an intellectual desert where only ethnic nationalism weeds sometimes flourished. The positive influence of the economic crisis upon the society is that the crisis makes people think and be open to other ideas.
The government isn't prepared to face the contradictions of a policy that takes over and nationalises enterprises from inefficient and corrupt owners at taxpayers' expense, yet then seeks to restore the same companies to the same corrupt private hands.
The more the authorities refuse to change the system, preferring stop-gap measures, the more they will be caught in a downward spiral and the more they will lose control of their policies — and the economy as well.
In 2006–08, food shortages became a global reality, with the prices of commodities spiraling beyond the reach of vast numbers of people. International agencies were caught flatfooted, with the World Food Program warning that its rapidly diminishing food stocks might not be able to deal with the emergency.
It’s hard to imagine that the political establishment in Russia believe themselves in magic and fairytale decisions made to meet the crisis, but they can’t abandon their ideology, without affecting their authority.