One of the central themes in Fascism: A Warning is the fragility of democracy, which Albright explores by examining both historical and contemporary examples of democratic backsliding. She argues that democracy is not a static or guaranteed system of government—rather, it requires constant vigilance and active participation from its citizens to survive.

Albright uses historical events, such as the collapse of democracies in Germany and Italy during the 1930s, to illustrate how easily democratic institutions can crumble when faced with economic, social, and political pressures. In these instances, citizens sought strong leadership to navigate national crises, inadvertently allowing authoritarian regimes to take power. The democratic erosion that Albright describes begins subtly, through manipulations of the press, the judicial system, or other key institutions, and can eventually lead to the collapse of democracy altogether.

Albright also draws parallels between these historical moments and the current political climates in various countries, including the United States. She warns that the same vulnerabilities that allowed fascism to rise in the 20th century are still present today, with many modern leaders exploiting public fears and frustrations to erode democratic norms. For instance, Albright highlights how leaders in countries like Hungary, Turkey, and Venezuela have systematically weakened judicial independence, restricted media freedom, and silenced opposition, all while maintaining a veneer of democratic legitimacy through elections.