Millennials’ Support for Liberal Democracy Is Failing: A Deep Uncertainty Perspective
37 Pages Posted: 11 Sep 2017
Date Written: August 7, 2017
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: Suggested Citation