Populists Rise During Crises But Often Fail to Boost Economies in the Long Run

Financial crises and economic downturns can give rise to populism by fueling people's anger at the establishment

Once in power, populist leaders often fail to deliver on promises of reviving the economy and boosting prosperity

Under populist rule, economies tend to perform worse over the long term, with lower GDP growth rates

Populists usually don't interfere much at first with institutions like central banks, but often undermine them gradually

Even when populists fail to improve economic outcomes, they have a tendency to remain firmly in power once elected