There can be no question that American democracy is at risk. Just two years ago, thousands of insurrectionists stormed and occupied the Capitol building in a failed attempt to overthrow the result of the 2020 presidential election. They were supported by a large number of Republican members of Congress who falsely claimed that the election outcome was fraudulent.
There are additional disturbing signs in evidence across the country.
Angry parents storm school board and city council meetings shouting down officials demanding that books be banned and teachers be dismissed. Election officials fear for their safety as they count votes while armed protesters gather threateningly outside polling places. Republican-led state legislatures pass laws to restrict voting rights or make polling places more difficult to access. Hate crimes continue to rise, as do mass shootings. Students from both the right and left shout down invited speakers with whom they disagree. Universities feel pressure to dismiss professors or ban groups who challenge conventional viewpoints. And, as the recent debacle to elect the speaker of the House of Representatives exhibited, intolerant behaviours at work in the US Congress are part of a politics so polarised by hyper-partisanship that our legislature is now alternately paralysed or dysfunctional.
Against this dire backdrop, we should debunk that oft-made claim that “free and fair elections are the essence of a democracy". While important, elections are just one of the characteristics of a democracy, not its essence. More important are the values that must be cultivated and protected in order to preserve a truly democratic order. Central among these values is that losers must respect the outcomes of elections, and that winners and groups in the majority must show respect for the rights of those who lose and those in the minority. Further, this respect leads to the protection of the rights of those who hold views that diverge from the majority and the need for winners and losers, the majority and minority, to engage in constructive dialogue to find compromise solutions to problems facing the society as a whole. This is the essence of democracy.
When moderate voices seeking solutions are denounced for “selling out", compromise becomes impossible and democracy suffers
A true democracy is never a zero-sum game in which the winners use their positions of power to silence, cancel or demonstrate intolerance for the views of those they have defeated in free and fair elections. The impulse to squash or punish those who represent divergent viewpoints is anti-democratic. It is important to maintain vigilance in cultivating such a culture because without it a democracy can wither and die.
If this idea of respecting minority rights and views is important in a society in which one group is clearly dominant, it is even more critical in societies that are evenly divided. It was precisely the heavy-handed abuse of their electoral victory that caused so many Egyptians to recoil from Muslim Brotherhood rule. And it is the way that the victorious far-right coalition currently governing in Israel is behaving to unravel the courts, rule of law, and minority rights that has caused fear and a backlash among many Israelis.
If democracy isn’t zero-sum, neither is politics, especially in diverse societies. When victors overreach by imposing their ideologies or attempting to extend their power by changing the rules of the road, they weaken democracy and invite a potentially disruptive backlash from groups threatened by their behaviour.
What is happening in the US today provides a case in point.
In 2022, Republicans won a very close election and now hold a slight advantage in the House of Representatives. They lost ground in the Senate, and Democrats still control the White House. Given this outcome, one would think that Republicans and Democrats, quite evenly divided among the electorate, would seek compromise solutions to pressing problems facing the country – with Republicans in the House using the leverage they now have to push for compromises that reflect their views.
Instead, Republicans appear to have decided to use their control of the House to paralyse the government and demonise opponents, making demands that amount to “my way, or else". The danger here is that such an approach is not only fatal to respectful discourse and compromise, but also poisons political relationships, spreading downwards to create an even more polarised electorate.
The adage “politics is the art of the possible” is true, but we must also acknowledge the vital role played in a democracy by groups that passionately advocate principled positions or novel and forward-looking solutions. America’s political history is filled with examples of groups and visionary leaders who have organised around their principles and solutions, moving public attitudes and, as a result, changing the political calculations of policymakers, thereby expanding what is possible.
But when political views become dogmatic – hardened, absolute and unbending, such an approach is counterproductive and self-destructive. In this environment, the bad behaviour of uncompromising extremists can be held up as “principled", while moderate voices seeking solutions are denounced for “selling out". As a result, compromise becomes impossible and democracy suffers. This, sadly, is where we are today in America. And it is putting our very democracy at risk.
WHAT FANS WILL LOVE ABOUT RUSSIA
FANS WILL LOVE
Uber is ridiculously cheap and, as Diego Saez discovered, mush safer. A 45-minute taxi from Pulova airport to Saint Petersburg’s Nevsky Prospect can cost as little as 500 roubles (Dh30).
FANS WILL LOATHE
Uber policy in Russia is that they can start the fare as soon as they arrive at the pick-up point — and oftentimes they start it even before arriving, or worse never arrive yet charge you anyway.
FANS WILL LOVE
It’s amazing how active Russians are on social media and your accounts will surge should you post while in the country. Throw in a few Cyrillic hashtags and watch your account numbers rocket.
FANS WILL LOATHE
With cold soups, bland dumplings and dried fish, Russian cuisine is not to everybody’s tastebuds. Fortunately, there are plenty Georgian restaurants to choose from, which are both excellent and economical.
FANS WILL LOVE
The World Cup will take place during St Petersburg's White Nights Festival, which means perpetual daylight in a city that genuinely never sleeps. (Think toddlers walking the streets with their grandmothers at 4am.)
FANS WILL LOATHE
The walk from Krestovsky Ostrov metro station to Saint Petersburg Arena on a rainy day makes you wonder why some of the $1.7 billion was not spent on a weather-protected walkway.
Dirham Stretcher tips for having a baby in the UAE
Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:
• Buy second hand stuff
They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.
• Get a health card and vaccinate your child for free at government health centres
Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.
• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.
Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.
• Once baby is ready for solids, cook at home
Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.
The biog
Family: He is the youngest of five brothers, of whom two are dentists.
Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.
Where he works: Liberty Dental Clinic
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”