Venezuela has gone from being a democratic country 15 years ago to being totally not a democracy today. Usually that de-democratization doesn't take the form of a heavy handed police state.

If we say something often enough, we come to believe it. We don't usually delude others until after we have first deluded ourselves.

If right and left are competing to be the biggest victim, who is competing to be the government?

One of the great drivers of the alienation that has made Donald Trump possible is that the growth in the American economy has been weak. In the decade from 2005 to 2015, there was not one year when the US hit three per cent growth. And to the extent there's been growth, virtually all of it has been collected by the top 10 per cent of the population. Obviously, if we knew how to make growth faster, we would. We don't. And it's very difficult to make growth more broadly shared. Because it's not just the US that has this problem.

Donald Trump, as a businessman, he's not much of a builder and he's not much of dealmaker and he certainly isn't very good at making expenses line up with income. But he is a marketing genius. He must have seen an empty market niche that no one but him filled.

I want people to understand that, look, we're in a period of democratic deficit, democratic recession. There are fewer democracies in the world today than in 2005, and in many of the countries that are still technically democracies, we're seeing a reduction in the rule of law. And that's especially true in Central Europe, but it's also true of places like South Africa, the Philippines.

We're not free because other people are nice, maybe other people aren't nice that day. We're free because we expect the institutions of government to work impersonally. That we expect people in government to understand they don't work for the president or the prime minister, they work for the government. And the government is always there.