Around the world, people who are angry at stagnant wages and growing inequality have rebelled against established governments and turned to political extremes. Liberal democracy, history's greatest engine of growth, now struggles to overcome unprecedented economic headwinds-from aging populations to scarce resources to unsustainable debt burdens. Hobbled by short-term thinking and ideological dogma, democracies risk falling prey to nationalism and...

By any standard Argentina was a very rich country until the 1970s, with competitive industries, modern agriculture, and a prosperous middle class. By 2001, 21 out of 36 million people were living below the poverty level, and formerly eradicated diseases such as tuberculosis and leprosy reemerged. May Justice Be Done goes into the streets of Argentina, tracing the roots of the crisis in scholarly detail, back to the irresponsible lending policies of...