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" "[I]n the 1980s and 90s there was an extension of the autonomy of individual property owners in... a movement towards neoliberalism represented by Ronald Reagan, Margaret Thatcher and... by the Chicago school of economics that denigrated... the role of the state in the economy, that said the private markets would be able to solve most social distribution problems and the like. This was true in many ways. The world did become much richer in this period, but it also became much more unequal... [W]ithout adequate regulation and... effort to protect people against the excesses of market capitalism, you had people... left behind, even as their societies as a whole, grew. ...[T]his ...became one of the triggers for the kind of populism we've seen arise in many rich countries.
Yoshihiro Francis Fukuyama (born October 27, 1952) is an American philosopher, political economist, and author best known for his 1992 book, The End of History and the Last Man.
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The second failing of liberalism comes directly out of the fact that it attempts to lower the horizons of politics. Liberal societies do not want to tell you how to live. They do not want to define "the good life" because that is the source of conflict, but as a result liberal societies tend not to satisfy these very deep human cravings for community, because... there's something wrong with the basic liberal premise that we all start... as ed individuals. We're not self-interested individuals.
It's also been attacked from the left by people... I teach students at Stanford, and many of them think that liberalism is... the doctrine of their parents' or their grandparents' generation, but it's really not relevant to Gen Z younger people who are impatient for social justice and social change that liberalism is not providing.
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[F]inally, and... somewhat belatedly, there is the growing of a left that... has now been energized and is increasingly vocal... in certain quarters of the cultural community, in the arts and the universities, in Hollywood, in the media... where in some versions it also engages in a kind of illiberal... politics.