The term populism has been widely used in the arenas of politics and social upsurges. You might come across the stories of populist parties and their agendas. Populism raises when the society divides itself into two parties; one that rises against the other. This classification is mostly based upon the class system of the ordinary and elite class. A group having a shared goal reacts violently against the issues of inequality and injustice. One of the famous examples is the Populist Movement which gave rise to the Populist 1892. The party’s demands were later adopted as laws or constitutional amendments like a progressive tax system.
POPULISM AND ECONOMY
The relation between the economy and populism is clear because these populist movements can influence economic activity. Many economy-related problems give rise to populist parties who demand in a reactionary way against the government. This also impacts the existing economy due to the spread of chaos in the country. Many populist platforms have contributed to the free exchange of goods and services and anti-immigrant policies.
It is not necessary that every populist movement proves to be successful but there are many cases in the past that have greatly contributed to the economic systems today. Populism is seen more like a negative attitude of social groups in the modern world due to its negative influence on social stability.