Outside the Box: Populist leaders aren’t likely to make your income great again

Brexit, the election of Donald Trump, and the rise of non-traditional left and right parties in Europe lend themselves to different interpretations. Pollsters and analysts have labeled the phenomenon “populism.” This diagnosis is misleading.

Populism is an oxymoron. Democracy inherently requires popularity, with majority or, at least, sizeable support needed for political power. The reality is more mundane, being driven by four concerns:

First, a significant portion of voters are responding to the deteriorating outlook for jobs, wages, housing affordability, education, and health-care costs, post-retirement finances and reduced prospects for their children. They blame the decline on globalization, especially international competition and off-shoring using global supply chains.

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