Populism is at its most compelling in opposition. But as the CEPR research shows, it’s not great at governing. Having crunched the numbers to assess the performance of both leftist and right-wing populist governments its conclusion is stark: “When populists come to power, they can do lasting economic and political damage. Countries governed by populists witness a substantial decline in real GDP per capita, on average. Protectionist trade policies, unsustainable debt dynamics, and the erosion of democratic institutions stand out as commonalities of populists in power.”
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