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The Historical Perspective on the Trump Puzzle: A Review of Barry Eichengreen’s “The Populist Temptation: Economic Grievance and Political Reaction in the Modern Eraâ€

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  • Konstantin Sonin

    (University of Chicago - Harris School of Public Policy; Higher School of Economics; CEPR)

Abstract

In “The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era†, Barry Eichengreen relies on historical and contemporary evidence to analyze major episodes of populism in the 21st century, the Trump election in the U.S. and Brexit in Europe. Populism, an anti-elite, authoritarian, and nativist movement, rises in times of economic and political discontent because elites, the winners of the preceding period, are unwilling or unable to share their winnings with the losers. The review asks for a model, which would allow to differentiate a destructive populism wave and a constructive adjustment of political system to changing circumstances.

Suggested Citation

  • Konstantin Sonin, 2020. "The Historical Perspective on the Trump Puzzle: A Review of Barry Eichengreen’s “The Populist Temptation: Economic Grievance and Political Reaction in the Modern Eraâ€," Working Papers 2020-129, Becker Friedman Institute for Research In Economics.
    • Handle: RePEc:bfi:wpaper:2020-129
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    References listed on IDEAS

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    8. Georgy Egorov & Konstantin Sonin, 2013. "A Political Theory of Populism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 128(2), pages 771-805.
    9. Torsten Persson & Guido Tabellini, 2005. "The Economic Effects of Constitutions," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661926, April.
    10. Italo Colantone & Piero Stanig, 2018. "The Trade Origins of Economic Nationalism: Import Competition and Voting Behavior in Western Europe," American Journal of Political Science, John Wiley & Sons, vol. 62(4), pages 936-953, October.
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    Cited by:

    1. Razin, Ronny & Levy, Gilat & Young, Alwyn, 2022. "Misspecified politics and the recurrence of populism," LSE Research Online Documents on Economics 112544, London School of Economics and Political Science, LSE Library.

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