Sovereign risk---none other than a culmination of populistic democracy
The democracy which was built in the industrialized society needs revamping today.
In economy the Greek sovereign risk and the huge official debts of the Japanese government, and in politics the stalemate in Britain and (again) in Japan show that the democracy needs some systemic change to deter the "dictatorship by the masses" as Tocqueville described in early 19th century after his trip in the U.S.
This is an old question, but does anyone have a good idea?
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