Taming the populists

In many Western democracies, right-wing populists, energised by self-proclaimed victories over "establishment elites", are doubling down on the claim that globalisation lies at the root of many citizens' problems. For those whose living standards have stagnated or declined in recent decades, even as political leaders have touted free trade and capital flows as the recipe for increased prosperity, the argument holds considerable appeal. So it must be addressed head on. Of course, economic grievances alone do not fuel anti-globalisation sentiment; populism has emerged even in countries with low unemployment and rising incomes. But such grievances provide the kernel of truth that populist leaders need to attract support, which they then attempt to secure with distortions and exaggerations.