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The Icarus Curse: How Western Democracies Derailed and How to Get Back on Track

by Van Overtveldt, Johan

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Have Western democracies flown too close to the sun—and can they recover before it's too late? 

In The Icarus Curse, former Belgian finance minister Johan Van Overtveldt examines the economic and political decisions he believes have pushed Western democracies toward an increasingly uncertain future. 

Following the collapse of the Soviet Union, Western nations appeared to have established an unrivaled model of democratic government and economic prosperity. Yet decades later, mounting public debt, political polarization, declining institutional trust, and growing geopolitical competition have placed that model under enormous pressure. 

Van Overtveldt argues that years of expansive government intervention, unrealistic political promises, and reliance on Keynesian economic policies have weakened the foundations of Western prosperity. 

Drawing on the economic thinking of Adam Smith, John Maynard Keynes, and former Federal Reserve chairman Paul Volcker, he explores how policymakers might restore fiscal responsibility, encourage sustainable growth, and rebuild confidence in democratic institutions. 

Combining historical analysis, economic theory, and firsthand political experience, The Icarus Curse presents a provocative assessment of the challenges facing Western societies and a proposed path toward renewed economic and political stability.
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