From Mercatus Center <[email protected]>
Subject This Week at Mercatus: Do the Populists Have a Point, What's So Hard About Explaining GDP Plus Inflation, and Are Deficits Actually Going Down?
Date October 8, 2022 2:05 PM
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Do the Populists Have a Point?
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Robert Tracinski
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The case for populism is that it is a reaction to the failures and corruption of &ldquo;the elites.&rdquo; The people who have the impressive credentials and run our institutions, the &ldquo;so-called experts,&rdquo; have gotten everything wrong, have credulously fallen for ridiculous fads, and are corrupt and self-dealing. So they need to be pushed aside in favor of someone who represents the views of the common man. There is a long history of left-wing populism where the targeted elites are Wall Street and billionaires, and the solution, ironically, is to hand over a lot of unaccountable power to bureaucrats. But currently the dominant form of populism is coming from the right, where the villain is an imagined &ldquo;deep state&rdquo; and the solution is to create a &ldquo;deep
state&rdquo; of their own.

But before we can dismiss today&rsquo;s populists out of hand, we have to ask: Do they have a point?


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