After social democracy, what?

What has become of European social democracy? It is shocking that Spain is one of its last strongholds. What is the reason for this generalized decline that is giving life to the expansion of the far-right and which finds no compensation in the space to the left of socialists, who are still experiencing this situation with even more bewilderment? Are we to understand that the role of social democracy was one of counterbalance during industrial capitalism, within the framework of European democracies of the last century, and that now it cannot find its place in the new financial and digital capitalism? It is evident that the meaning of words and things changes, and that the mutation of the criteria of truth and virtue that shape each moment has an impact on the ways a society organizes itself. But the role of social democracy was fundamental, and its weakness is noticeable. And what is disturbing is that, while social democracy fades, blatant forms of authoritarian impulses are gaining ground everywhere, with a clear shift towards right-wing radicalization that exponentially propagates neo-fascist impulses.