As Donald Trump has won a historic landslide to once again reclaim the U.S. presidency, the conventional narrative has focused heavily on partisan polarization, disinformation, and the strengths or weaknesses of individual candidates. There is also a seeming reckoning within the Democratic Party, where at least some are recognizing that their focusing away from
working class populations and policies has catalyzed their dramatic defeat.
Yet this surface-level analysis misses the deeper crisis at play—one that stems not just from right-wing populism, but from the very structure of modern capitalism itself. Understanding Trump's enduring appeal requires examining how market forces have gradually
hollowed out democratic promise, creating the conditions for authoritarian alternatives to flourish. The traditional focus on defending democratic institutions against right-wing threats, while necessary, overlooks how thoroughly market logic has eroded faith in democratic problem-solving itself.
The Illusion of Market Democracy
For nearly five decades, Americans have been told that free markets and democracy are inseparable twins, each reinforcing and strengthening the other. The reality experienced by millions tells a different story. While formal democratic institutions remain intact, the actual power to shape daily life has shifted dramatically to unaccountable market forces and corporate boardrooms.
Healthcare costs, housing affordability, wage stagnation, inflation, climate anxiety, seemingly eternal wars fueled by weapons makers—on issue after issue, voters watch their elected representatives appear powerless against market pressures and corporate interests.
The pervasive influence of market ideology extends far beyond explicit political decisions. It shapes our very conception of what changes are possible and who can effectively implement them. The elevation of
business executives as society's primary problem-solvers reflects decades of cultural messaging that private sector experience trumps public service. This CEO worship has become so ingrained that even critics of Trump often focus on his personal failings as a businessman rather than questioning the assumption that business acumen translates to governance capability.
While Vice President Kamala Harris emphasized competence and normalcy, this message resonates poorly with voters who felt the previous "normal" wasn't working for them
This gap between theoretical democratic rights and practical powerlessness creates fertile ground for authoritarian appeals. When traditional democratic processes seem incapable of addressing material concerns, voters become more receptive to leaders promising to bypass or overturn the system entirely. Trump's appeal
draws significantly from his image as a decisive business executive who can "get things done" outside normal political channels—a notion that reflects decades of cultural messaging elevating CEOs as society's most effective leaders and change agents. The belief that executive business experience translates to effective governance reveals how thoroughly market logic has colonized our political imagination.
The Democratic establishment's strategy of running primarily on defending the pre-Trump status quo shows the poverty and "
strangely empty politics" of current mainstream liberal thinking. While Vice President Kamala Harris emphasized competence and normalcy, this message resonates poorly with voters who felt the previous "normal" wasn't working for them. The dominance of market ideology has convinced many that there are no real alternatives to current arrangements. Even as we face civilizational threats like climate change that markets demonstrably cannot solve, policy proposals remain trapped within market-based frameworks.
This ideological straitjacket constrains responses to pressing social problems. Housing affordability is addressed through tax credits and zoning tweaks rather than direct public provision. Healthcare reform centers on insurance market regulations rather than treating health as a public good. Climate change is filtered through carbon markets and tax incentives rather than democratic planning. The resulting policy menu appears technical and uninspiring to voters seeking fundamental change.
The Material Roots of Democratic Decline
The continued dominance of market fundamentalism doesn't exist in a vacuum—it's reinforced by material conditions that leave millions feeling economically insecure and politically powerless. Decades of wage stagnation, deindustrialization, and growing inequality have created a context where anti-democratic messages find ready audiences. The Covid-19 pandemic and subsequent
greedflation intensified these dynamics. As corporations posted record profits while workers struggled with rising prices, the disconnect between democratic ideals and economic reality became increasingly stark.
The entrenchment of market power shapes every aspect of daily life. Workers face increasingly precarious employment conditions, with stable jobs replaced by gig work and contract labor. Communities watch helplessly as corporate relocations devastate local economies. Young people enter adulthood burdened by student debt and priced out of housing markets. Each of these experiences reinforces the sense that democratic citizenship offers no real power over economic conditions.
The failure of center-left parties to articulate meaningful alternatives to market dominance leaves the field open for right-wing populists to channel economic discontent.
This learned helplessness in the face of market forces creates an opportunity and desire for reclaiming control that authoritarian populists eagerly fill. When democratic processes seem incapable of addressing fundamental challenges, promises to simply override or abolish those processes gain appeal. Trump's potential return isn't simply about partisan politics or individual personality—it reflects a deeper crisis of faith in democracy's ability to solve problems under the constraints of market supremacy.
The phenomenon extends beyond American borders. Globally, we are increasingly entering into the "
age of the strongman,"witnessing a pattern of authoritarian leaders rising to power by promising to subordinate market forces to national interests. While these promises usually prove hollow, their appeal reflects genuine frustration with democracy's apparent powerlessness against global market pressures. The failure of center-left parties to articulate meaningful alternatives to market dominance leaves the field open for right-wing populists to channel economic discontent.
This dynamic particularly affects younger generations who have grown up entirely within the neoliberal era and its "
capitalist realism." Having never experienced a period when democratic governance seemed capable of directing economic outcomes, many view politics primarily as cultural performance rather than a means of affecting material conditions. The resulting cynicism further erodes democracy's legitimacy as a tool for collective problem-solving.
Reclaiming Democratic Power
The path forward requires going beyond simply defending existing democratic institutions to advancing a vision of democratic economic control. This means building power in workplaces, communities, and political spaces to subject market forces to democratic oversight and direction. The key to defeating authoritarian populism lies not in simply defending the status quo, but in demonstrating that democratic action can meaningfully improve people's lives.
This expanded conception of democracy must reach beyond formal political rights to encompass economic decision-making. Public banking initiatives seeking democratic control over financial flows, workplace democracy expanding worker voice in corporate governance, and community control over local development and services all point toward possible futures where market forces serve democratic will rather than override it.
Real democratic renewal requires challenging both right-wing authoritarianism and the market fundamentalism that fuels it.
Success requires transcending the false choice between unaccountable market forces and authoritarian state power. Democratic economic control doesn't mean centralized bureaucracy—it means building institutions and movements that allow communities to shape investment priorities, work conditions, and development patterns. To imagine and create a different type of economy and society where profit is not prioritised overall other aspects of our existence.
The stakes of this choice become increasingly clear as Trump's return to power looms. Simply denouncing his anti-democratic tendencies while accepting the market's anti-democratic dominance is a recipe for failure. Real democratic renewal requires challenging both right-wing authoritarianism and the market fundamentalism that fuels it. The moment calls for fundamental reimagining of the relationship between democracy and economic power—moving from a system where democracy stops at the market's edge to one where democratic principles shape economic life itself.
