Populist Governments Suck at Economics

Populists are “good” at politics, but horrible at economics. In an article by the American Economics Association, <a href="https://www.aeaweb.org/articles?id=10.1257%2Faer.20202045" rel="noopener ugc nofollow" target="_blank">https://www.aeaweb.org/articles?id=10.1257/aer.20202045</a>, the price of populist governments averaged over 51 populist governments resulted in a 10% drop in GDP for those countries. The problem is that populists like Trump focus their appeal on the country’s “true people” as opposed to the dishonest elite. This is nothing but deception. By all their actions, it is not the “true people” that populists favor but only the highest levels of the capitalist elite. This strategy gets them votes, but once they are in power, watch out. These populist characters are on the rise intentionally. Will Trump become President, will Marine LaPen rise to lead France? Already, Victor Orban has done huge damage to Hungary, and Putin, of course, has plunged Russia into a totally unnecessary war with dire economic consequences for the country. Israel is flirting with absolute apartheid, and loss of democracy. What they often do is to undermine established institutions, and take crazy risks with all the country’s relationships. <a href="https://medium.com/@ed.desmond/populist-governments-suck-at-economics-ffbf91796593">Website</a>