Pros And Cons Of Populism

Populism has been one of the most versatile political positions for more than 2,000 years. In simple terms, it holds the view that the common citizens are suffering from exploitation, mistreatment or abuse meted out by an elite group. The elites are claimed to be trampling on the values, rights and economic security of the masses, using methods that are immoral or illegal, but populists assert that the elite can be usurped if citizens accept the danger and are willing to work together. The populist message frequently finds great appeal among the common citizens regardless of the political system that is in place. Populism has flourished under democracies, monarchies, dictatorships, communist regimes and socialist governments. In the United States, populism can span all political parties, including the Democratic, Republican, Libertarian, Independent and Socialist parties. Nevertheless, it is somewhat unusual to find a presidential candidate who has amassed a fortune of several billion dollars riding a populist wave to the degree that Donald Trump is doing so with his promise to bring back …show more content…
As an article in Forbes points out, there were numerous causes related to the crisis, including the push for short-term profits in the private lending sector and the collapse of the housing market in 2007. Homeowners found themselves owing significantly more on their homes than the current value of their properties. The crisis spread to Wall Street, and declining stock prices eroded economic security even more by undermining investments that people had made as part of their retirement planning. The impact on the banking industry led to a reduction in available credit for businesses as well as individuals. Many companies suspended or canceled expansions, closed plants, furloughed workers or reduced benefits, and unemployment rates soared along with foreclosure rates and