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Populism (03/2017) – by Ray Dalio

2 pointsby sr3dalmost 7 years ago

1 comment

sr3dalmost 7 years ago
First 5 pages are gold. This part trips me out on how similar the Trump&#x27;s administration and Trump himself are doing. It&#x27;s like their playbook one by one.<p>&quot;And while their political ideologies vary, the 1930s populists shared most of these core beliefs and policy goals:<p>o They aligned themselves with “the people” or “the common man.” o They were anti-establishment and attacked the current ruling interests (government, corporations, wealthy individuals, etc.), calling them elites who were out of touch and had failed the people. o They sought to undermine those elites in favor of others by, for example, advocating wealth redistribution or the nationalization of industry. o They were strongly nationalist and held national unity as a key aim. o They detested the debate and disagreement inherent in democracy, and sought to empower the executive branch, using strong-arm tactics to prevent others from getting in their way and, in more extreme cases, undermining democracy. o They tended to be anti-international, anti-global trade, and anti-immigrant. They often railed against foreign influence in their countries. This often translated to hostility toward other countries, which pushed those countries to embrace political extremes as well.<p>• Conflicts between factions became increasingly intense, leading to great obstructionism, crackdowns on opposition and free media, etc. This led to more autocratic leadership. Those that had the weakest norms&#x2F;shortest history of democratic institutions were quickest to move away from democracy to dictatorship&quot;