Populism

In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.

Economists have become increasingly interested in questions about populism over the last decade and particularly since Brexit and the election of American President Donald Trump. However, the definition of populism remains contested. Alan de Bromhead and Kevin O’Rourke argue that economists need a better understanding of populism’s history and its variegated goals when ascribing specific characteristics and behaviors to populists and their movements.

Most work on populism has investigated the reasons why voters choose populist leaders and governments. In new research, Moritz Schularick,  Christoph Trebesch, and  Manuel...