Anti-Establishment Politics Is Far From Going Away

It is tempting to consider last week's U.K. election -- in which the two major parties combined to take more seats in Parliament -- another indication that the anti-establishment phenomenon that propelled Brexit and President Donald Trump's victory is waning. That would be a mistake. A closer look suggests that, far from going away, the phenomenon is evolving, with potential consequences for key upcoming European elections.

Up until the Dutch elections in March, the political narrative was a simple one. Years of low and insufficiently inclusive growth delivered populations that had lost confidence in "expert opinion” and the "establishment," both public and private. They were angry, inclined to become single-issue voters, and open to alternatives, even if these lacked details and sufficient upfront implementation plans.