“Populism” was one of the big buzzwords of this election cycle. It was largely attached to the presidential campaigns of Donald Trump and Bernie Sanders, with both candidates referred to as “populists” despite having distinctly different political philosophies. Still, they both used the approach — with success — to tap into the deep dissatisfaction of the average American voter. For Donald Trump, populism has paid off well: In a shock to the political establishment, Trump has ridden populism straight to the White House. But we must understand what populism is really all about.
TGIF: The Great Carl Menger
There can be no doubt among competent historians that if ... the Austrian School has occupied an almost unique position in the development of economic science, this is entirely due to the foundations laid by this one man.... [I]ts fundamental ideas belong fully and...