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Millennials’ Support for Liberal Democracy Is Failing: A Deep Uncertainty Perspective

37 Pages Posted: 11 Sep 2017  

Shaen Corbet

Dublin City University Business School

Constantin Gurdgiev

Trinity College, Dublin; Middlebury Institute of International Studies at Monterey (MIIS)

Date Written: August 7, 2017

Abstract

Recent data on electoral dynamics and sociopolitical preferences present evidence of declining popular support for the values and institutions of traditional liberal democracy across some western societies. This decrease is more pronounced within the younger cohort of voters, especially the Millennials. Key drivers for the younger generations’ scepticism toward liberal democratic values are domestic intergenerational political and socioeconomic imbalances that engender the environment of deeper uncertainty. Policy and institutional responses to democratic volatility are inconsistent with those necessary to address rising deep uncertainty and may exacerbate and accelerate the negative fallout from the pressures on liberal democratic institutions.

Keywords: Knightian Uncertainty; Geopolitical Risks; Liberal Democracy; Demographics; Millennials; Generation X; Baby Boomers

JEL Classification: H10, H11, H19, P10, P16, P17

Suggested Citation

Corbet, Shaen and Gurdgiev, Constantin, Millennials’ Support for Liberal Democracy Is Failing: A Deep Uncertainty Perspective (August 7, 2017). Available at SSRN: https://ssrn.com/abstract=3033949

Shaen Corbet

Dublin City University Business School ( email )

Dublin 9
Ireland

Constantin Gurdgiev (Contact Author)

Trinity College, Dublin ( email )

Trinity College
Dublin 2

Middlebury Institute of International Studies at Monterey (MIIS) ( email )

460 Pierce St
Monterey, CA 93940
United States

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