It is often said these days that the post-War, rules-based world order, founded on liberalism and international co-operation, is unravelling. Selfish nationalism, populism and protectionism are to blame.

But it can also be said that this process has been well under way for some time. The three disgraces of free-market fundamentalism, privatization and deregulation have been ripping apart the fabric of social liberalism for several decades. The tendencies incarnated by Trump and Brexit are consequences rather than revolutions – and certainly not solutions.