Francis Fukuyama: Liberalism and Its Discontents

The event at the Commonwealth Club of California commences with Ken Broad, a founding member of Jackson Square Partners, extending his welcome to the in-person and online audiences. He emphasizes the significance of the Club as a 'temple to ideas' and highlights the partnership with the University of Southern California and the Dornsife Center for the Political Future. The evening's program features political scientist Francis Fukuyama, who will discuss his new book, 'Liberalism and Its Discontents,' addressing the challenges faced by liberal democracy globally. The conversation will be moderated by political consultant and writer Tim Miller, setting the stage for a relevant and thought-provoking dialogue.

In this segment, the discussion delves into the definition of liberalism, distinguishing it from its American connotations and tracing its origins to the European wars of religion. Liberalism is presented as a doctrine that emphasizes individual rights, the rule of law, and constitutional checks and balances. It is associated with modern natural science and the scientific method, fostering an economic and technological progress. The conversation clarifies that liberalism is not inherently linked to specific economic policies but is about protecting individual autonomy and moral choice, which are considered universal human dignities.

This paragraph explores the relationship between liberalism and democracy, highlighting that while they are often allies, they are distinct concepts. Liberalism focuses on legal constraints to prevent abuse of power, whereas democracy is about legitimizing power through the will of the people. The discussion points out that democracy does not necessarily safeguard liberalism, as seen in cases where democratically elected leaders undermine the rule of law. The conversation also addresses the threats to liberalism from both populist and authoritarian figures who exploit democratic mandates to erode liberal institutions.

The conversation turns to the merits of liberalism, which include its ability to manage diversity and conflict within society, its moral foundation in human choice, and its historical association with economic prosperity. However, the paragraph also acknowledges the discontents and critiques of liberalism, such as the perception that it does not foster a strong sense of community and the challenges it faces from both the right and the left politically. The discussion hints at the complexities of balancing individual rights with communal bonds in a liberal society.

The role of national identity within a liberal framework is examined, with a distinction made between toxic forms of nationalism and a more inclusive, liberal national identity. The conversation suggests that a liberal national identity should be based on shared values of freedom and equality, rather than ethnicity or religion. The discussion also touches on the importance of patriotism and how it can be a unifying force within a diverse society, using the example of the United States' cultural and political identity.

This paragraph addresses the critiques of liberalism from both the right and the left, including the right's longing for a homogeneous national identity and the left's impatience with the slow pace of progress and the protection of property rights benefiting the wealthy. The discussion also tackles the misinterpretations of liberalism, particularly the extreme versions of identity politics that can undermine individual rights in favor of group rights, which can be illiberal.

The conversation delves into the impact of neoliberalism, which is criticized for exacerbating income inequality and leading to a backlash against the liberal order. Neoliberalism's emphasis on market efficiency and reduction of state intervention is contrasted with the need for a balance between individual freedoms and social protections. The paragraph also discusses the dangers of taking the liberal value of individual autonomy to extremes, which can erode traditional moral orders and lead to social fragmentation.

This segment focuses on the deregulation of the financial sector as a consequence of neoliberal policies, which led to the 2008 financial crisis. The discussion criticizes the removal of regulations that were essential for controlling the risks taken by banks and financial institutions. The conversation highlights the disconnect between the elites who created the crisis and the ordinary citizens who suffered its consequences, emphasizing the public's justified anger at the system's failure.

The conversation turns to the challenges liberalism faces in the digital age, particularly the decline of shared sources of facts and the rise of misinformation. The discussion explores the impact of the internet on the dissemination of information and the erosion of trust in scientific and media institutions. The paragraph also touches on the influence of critical theory and postmodernism on the perception of science and objectivity, contributing to the current crisis of liberalism.

This paragraph identifies the clear and present danger to liberalism as coming from the right, with the potential for the erosion of democratic norms and the rule of law in the upcoming elections. The discussion highlights the January 6th insurrection and the subsequent normalization of such actions by certain political factions, emphasizing the urgent need to address this threat to the liberal order.

The final paragraph reflects on the cyclical nature of liberalism, suggesting that societies may need to experience the failures of alternative systems before appreciating the merits of liberalism. The discussion acknowledges the complacency that can set in after a prolonged period of peace and prosperity and stresses the importance of vigilance in defending liberal values. The conversation concludes with a note of optimism about the creative and progressive potential of liberal societies.