Too many people bought into the Fukuyama "end of history" theory whereby free trade and free markets would automatically lead to democracy and liberal values spreading worldwide. It probably seemed like a reasonable hypothesis right after the Soviet Union fell, but at this point it's pretty clear the events of the last decade have debunked it completely. The silver lining is we're a little smarter now and will hopefully make better decisions going forward.
His latest thoughts are on corruption and the difference between the rule of law and patrimonialism. All this, well before the election of Donald Trump. Truly amazing and admirable how calibrated he came back after the massive fail that was the end of history.
