Populism

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Economics

1.

In a neutral sense, populism can be described as political activity which addresses the concerns of ordinary people.

The UK's pro-Brexit referendum vote and the election of US President Trump, both in 2016, are linked by many commentators to populism.


2.

The term 'populism' is also used negatively by some writers, in order to highlight economic risks associated with populism and nationalism.


"Despite serious political risks linked to populism on both sides of the Atlantic, the growth outlook looks very promising indeed."
The Treasurer magazine, March 2017, p17 - Kallum Pickering, senior UK economist, Berenberg Bank.


"Andy Haldane, chief economist at the Bank of England... puts a lot of store in 'agent based modelling' (ABM), a computational approach that attempts to integrate the often capricious nature of human and institutional behaviour into forecasting models.
Let's hope it works; if it doesn't, populist denigration of expert opinion will only intensify further.
The alternative of government by gut instinct is not an appealing prospect."
The Treasurer magazine, February 2017, p13 - Jeremy Warner, assistant editor of The Daily Telegraph.


See also