1945

Economics of populism

Populism encompasses many policy positions on the left and the right of the political spectrum, but it commonly includes anti-elite and anti-globalisation rhetoric. In recent years, many Western democracies have experienced a rise in populist sentiment and the emergence of populist movements. Most notably, populist pressures contributed to the election of Donald Trump and the referendum vote in favour of Brexit in 2016. In the period since, populist parties have experienced increased electoral success in many European countries, including the National Front (National Rally) in France and Alternative for Germany, as well as the formation of a populist coalition government in Italy in 2018. Based on data from the 1960s up to 2016, the vote share of populist parities in Europe more than doubled from 5.1% to 13.2% and the share of seats rose from 3.8% to 12.8% (Inglehart and Norris 2016: 2).

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