Economics
In G-20, 41% of GDP Controlled by Populists vs 4% in 2007
- Mainstream democratic parties now control 32% of G-20’s output
- Key catalyst is 2008 financial crisis and ensuing unemployment
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The establishment’s sway in major economies is on the wane.
In the Group of 20, just 32 percent of gross domestic product is controlled by mainstream democratic parties, down from 83 percent in 2007, according to Tom Orlik at Bloomberg Economics. Over the same period, the power of populist parties’ has surged to 41 percent of GDP from 4 percent.