[pjc50]

> the job of democracy is to foster the well-being of the people

The basic "social democrat" mission statement, rarely heard these days even in Europe.

> why were democratically-oriented politicians unwilling or unable to take similar measures?

The short answer is that while politicians are dependent on the public for votes, they're dependent on a much smaller group of opinion formers, media organisations, and donors for everything else including winning those votes. And the small group tends to be wealthy, conservative, and not willing to have their economic freedom restricted.