What drives populism?
What has led to the rise of populism? The conventional answer involves inequality, flattening wages – and general economic malaise. In Europe, one year after the vote for Brexit, Martin Wolf of the Financial Times claimed that the global financial crisis had ‘opened the door to a populist surge’. In America, thousands rushed out to buy J.D. Vance’s Hillbilly Elegy, a coming of age story about down-and-outs in poverty stricken Kentucky, as a blueprint on the Trump voter. Yet this take is deeply misleading. If populists only required economic hardship to thrive then they would be rocking in Portugal and Spain while collapsing in states that have had some of