Populist movements — on both the right and left — argue that liberalism has failed to deliver on its lofty ideals. Instead of liberty, equality, and prosperity, it has brought about widening inequality, the breakdown of traditional communities, and unchecked power for an elite class that is increasingly detached from ordinary people.

At the close of the twentieth century it appeared that the great ideological battles between fascism, communism, and liberalism had resulted in the overwhelming victory of liberalism. Democratic politics, human rights, and free-market capitalism seemed destined to conquer the entire world. But as usual, history took an unexpected turn, and after