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

37 Pages Posted: 11 Sep 2017

See all articles by Shaen Corbet

Shaen Corbet

Dublin City University ; University of Waikato - Management School

Constantin Gurdgiev

Monfort College of Business, University of Northern Colorado; Trinity Business School, Trinity College, Dublin

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 or http://dx.doi.org/10.2139/ssrn.3033949

Shaen Corbet

Dublin City University ( email )

Dublin 9
Ireland

University of Waikato - Management School ( email )

Hamilton
New Zealand

Constantin Gurdgiev (Contact Author)

Monfort College of Business, University of Northern Colorado ( email )

Kepner Hall
800 17th Street
Greeley, CO 80639
United States
80639 (Fax)

Trinity Business School, Trinity College, Dublin ( email )

Aras an Phiarsaigh
College Green
Dublin, Leinster D2
Ireland

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