IDEAS home Printed from https://ideas.repec.org/p/bfi/wpaper/2020-129.html
   My bibliography  Save this paper

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€

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://repec.bfi.uchicago.edu/RePEc/pdfs/BFI_WP_2020129.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rudiger Dornbusch & Sebastian Edwards, 1991. "The Macroeconomics of Populism in Latin America," NBER Books, National Bureau of Economic Research, Inc, number dorn91-1, March.
    2. Shleifer, Andrei, 2012. "The Failure of Judges and the Rise of Regulators," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262016958, December.
    3. Dani Rodrik, 2018. "Is Populism Necessarily Bad Economics?," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 196-199, May.
    4. Rudiger Dornbusch & Sebastian Edwards, 1991. "The Macroeconomics of Populism," NBER Chapters, in: The Macroeconomics of Populism in Latin America, pages 7-13, National Bureau of Economic Research, Inc.
    5. Sergei Guriev & Elias Papaioannou, 2022. "The Political Economy of Populism," Journal of Economic Literature, American Economic Association, vol. 60(3), pages 753-832, September.
    6. Acemoglu,Daron & Robinson,James A., 2009. "Economic Origins of Dictatorship and Democracy," Cambridge Books, Cambridge University Press, number 9780521671422.
    7. Daron Acemoglu, 2005. "Constitutions, Politics and Economics: A Review Essay on Persson and Tabellini's "The Economic Effect of Constitutions"," NBER Working Papers 11235, National Bureau of Economic Research, Inc.
    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, December.
    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.
    11. Rudiger Dornbusch & Sebastian Edwards, 1991. "Introduction to "The Macroeconomics of Populism in Latin America"," NBER Chapters, in: The Macroeconomics of Populism in Latin America, pages 1-4, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    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.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Benczes, István & Szabó, Krisztina, 2023. "Társadalmi törésvonalak és gazdasági (ir)racionalitások. A közgazdaságtan szerepe és helye a populizmus kutatásában [Social cleavages and economic (ir)rationalities: The role of economics in populi," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 23-54.
    2. Campos, Luciano & Casas, Agustín, 2021. "Rara Avis: Latin American populism in the 21st century," European Journal of Political Economy, Elsevier, vol. 70(C).
    3. Giray Gozgor, 2022. "The role of economic uncertainty in the rise of EU populism," Public Choice, Springer, vol. 190(1), pages 229-246, January.
    4. Manuel Funke & Moritz Schularick & Christoph Trebesch, 2023. "Populist Leaders and the Economy," American Economic Review, American Economic Association, vol. 113(12), pages 3249-3288, December.
    5. Sergei Guriev, 2020. "Labor market performance and the rise of populism," IZA World of Labor, Institute of Labor Economics (IZA), pages 479-479, July.
    6. Gian Italo Bischi & Federico Favaretto & Edgar J. Sanchez Carrera, 2022. "Long-term causes of populism," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 17(1), pages 349-377, January.
    7. Jante Parlevliet & Massimo Giuliodori & Matthijs Rooduijn, 2021. "Populist attitudes, fiscal illusion and fiscal preferences: evidence from Dutch households," Working Papers 731, DNB.
    8. Sebastian Edwards, 2019. "On Latin American Populism, and Its Echoes around the World," Journal of Economic Perspectives, American Economic Association, vol. 33(4), pages 76-99, Fall.
    9. Ntentas, Raphael, 2021. "Quantifying political populism and examining the link with economic insecurity: evidence from Greece," LSE Research Online Documents on Economics 112579, London School of Economics and Political Science, LSE Library.
    10. Seghezza, Elena & Pittaluga, Giovanni B., 2018. "Resource rents and populism in resource-dependent economies," European Journal of Political Economy, Elsevier, vol. 54(C), pages 83-88.
    11. Maximiliano Marzetti & Rok Spruk, 2023. "Long-Term Economic Effects of Populist Legal Reforms: Evidence from Argentina," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 65(1), pages 60-95, March.
    12. Mejia, Daniel & Posada, Carlos-Esteban, 2007. "Populist policies in the transition to democracy," European Journal of Political Economy, Elsevier, vol. 23(4), pages 932-953, December.
    13. Gilles Saint‐Paul & Davide Ticchi & Andrea Vindigni, 2021. "Engineering crises: Favoritism and strategic fiscal indiscipline," Economics and Politics, Wiley Blackwell, vol. 33(3), pages 583-610, November.
    14. Anand, Kartik & Gai, Prasanna & König, Philipp Johann, 2020. "Leaping into the dark: A theory of policy gambles," Discussion Papers 07/2020, Deutsche Bundesbank.
    15. Yann Algan & Sergei Guriev & Elias Papaioannou & Evgenia Passari, 2017. "The European Trust Crisis and the Rise of Populism," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(2 (Fall)), pages 309-400.
    16. Federico Faveretto & Donato Masciandaro, 2018. "Financial Inequality, group entitlements and populism," BAFFI CAREFIN Working Papers 1892, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    17. Raphael Ntentas, 2021. "Quantifying Political Populism and Examining the Link with Economic Insecurity: evidence from Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 165, Hellenic Observatory, LSE.
    18. Pan, Wei-Fong, 2023. "Household debt in the times of populism," Journal of Economic Behavior & Organization, Elsevier, vol. 205(C), pages 202-215.
    19. Fausto Panunzi & Nicola Pavoni & Guido Tabellini, 2020. "Economic Shocks and Populism: The Political Implications of Reference-Dependent Preferences," CESifo Working Paper Series 8539, CESifo.
    20. Valerio Dotti, 2022. "No Country for Young People? The Rise of Anti-Immigration Politics in Ageing Societies," Working Papers 2022:14, Department of Economics, University of Venice "Ca' Foscari".

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bfi:wpaper:2020-129. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Toni Shears (email available below). General contact details of provider: https://edirc.repec.org/data/mfichus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.