Only true liberalism can thwart the demagogues | Nick Cohen

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From Brexit to Trump to Putin, it is the scourge of crude nationalism that must be challenged

When underdogs become overdogs, everything changes. They are the masters now, however much they try to pretend otherwise. Their power to change and ruin lives demands relentless and unforgiving scrutiny.

The hangover from the long age of globalisation has hidden the existence of a new elite, let alone the need to hold it to account. The neoliberal order began from the fall of the Berlin Wall in 1989, perhaps earlier with the elections of Margaret Thatcher and Ronald Reagan in 1979/1980. You have to be in your 50s to remember another time. It ended with the collapse of Lehman Brothers in 2008. Its death was disguised because no new system stepped forward to replace it.

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