Martin Wolf: In defence of democratic capitalism

Stocks

The marriage of liberal economics and democracy has brought immense benefits to the world, but faces its toughest test in decades. What needs to be done?

Martin Wolf

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Martin Wolf: In defence of democratic capitalism

(Representative)

In May 1940, as the Nazis invaded the Netherlands, my mother, then 21 years old, escaped from the country in a trawler hijacked by her father, a self-made fish merchant. Her father, one of nine, asked all his wider family to join them on the journey to England. None did: they were all slaughtered in the Holocaust. My father, who grew up in Vienna, left in 1937, at the age of 27. He then came to England, where he was…