from Part III - Politics
Published online by Cambridge University Press: 20 August 2021
The consensual, moderate politics that characterized the golden age of democratic capitalism hasgiven way, in the past decades, to growing public dissatisfaction toward political elites,ideological polarization, and the rise of populist parties. This chapter starts by exploring theeconomic foundations of that remarkable political turnaround. It then describes the historicalsequence through which populist movements took advantage of those changes. And it concludesby discussing potential responses to the new economic and political challenges faced byadvanced economies.
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