The economic analysis of populism. A selective review of the literature
Economic analysis is essential to the understanding of the rise and fall of populism. The conceptual and analytical framework of economics to the study of populism is still in its infancy, but great advances have been made in recent years. This paper reviews some key contributions behind this progress. When analyzing populism, economists face two methodological hurdles: lack of consensus and clarity about its definition and reconciling the populist vote with voter rationality. The former has plagued sociologists and political scientists for decades.