The picture is bad in the United States, Brazil, Mexico, South Africa, France, Australia and the United Kingdom.

But satisfaction has increased in Germany, South Korea and many of the post-Communist countries of Central and Eastern Europe.

The main reason behind the disillusion with democracy among young people was inequality of wealth and income, the report said, citing figures showing that Millennials make up around a quarter of the US population but hold just 3% of the wealth. Baby Boomers held 21% of the wealth at the same age.

The study suggested that the populist challenge to mainstream, “establishment” politics could actually help improve democratic engagement by shocking moderate parties and leaders into reversing the decay.