The emergence of an international protest movement without a coherent program is therefore not an accident: It reflects a deeper crisis, one without an obvious solution. Democracy is based on the rule of law. Democracy works only within distinct borders and among people who feel themselves to be part of the same nation. A “global community” cannot be a national democracy. And a national democracy cannot command the allegiance of a billion-dollar global hedge fund, with its headquarters in a tax haven and its employees scattered around the world.

Unlike the Egyptians in Tahrir Square, to whom the London and New York protesters openly (and ridiculously) compare themselves, we have democratic institutions in the Western world. They are designed to reflect, at least crudely, the desire for political change within a given nation. But they cannot cope with the desire for global political change, nor can they control things that happen outside their borders. Although I still believe in globalization’s economic and spiritual benefits — along with open borders, freedom of movement and free trade — globalization has clearly begun to undermine the legitimacy of Western democracies.

“Global” activists, if they are not careful, will accelerate that decline. Protesters in London shout,“We need to have a process!” Well, they already have a process: It’s called the British political system. And if they don’t figure out how to use it, they’ll simply weaken it further.