Unit VII: Populism Flashcards
(52 cards)
What is populism?
A political approach that seeks to represent the interests of ordinary people, often contrasted with elite interests.
Populism is characterized by its anti-elite rhetoric and pro-redistribution policies.
Why does populism matter?
It influences political dynamics and economic policies in various regions, particularly in Latin America.
Populism’s impact on governance and social conflict makes it a significant political phenomenon.
What are the characteristics of populism?
- Nationalist rhetoric
- Anti-elite sentiment
- Economic policies favoring redistribution
- Focus on short-term objectives
These characteristics often result in underestimating long-term macroeconomic risks.
What is the economic model of populism?
Populism prioritizes short-term redistributive policies while often neglecting long-term macroeconomic stability.
This approach can lead to fiscal deficits, inflation, and debt.
What are the short-term successes of populist policies?
They can achieve immediate economic redistribution and growth.
However, these successes often come at the cost of long-term economic stability.
What are the long-term consequences of populist policies?
- Inflation
- Debt
- Economic stagnation
- Crises
These consequences can undermine the initial benefits of populist governance.
What did Milton Friedman state about inflation?
Inflation is always and everywhere a monetary phenomenon caused by excessive money supply growth relative to output.
Friedman emphasized that too much money chasing too few goods leads to inflation.
How does inflation affect purchasing power?
It lowers purchasing power and increases poverty.
Inflation disproportionately impacts low-income households.
What do classical economists say about inflation?
It reflects a decline in purchasing power and is primarily caused by monetary expansion.
Classical views suggest inflation serves as a hidden tax on consumption.
What are the economic effects of inflation according to the text?
- Lowers purchasing power
- Increases poverty
- Creates macroeconomic instability
Inflation can lead to inefficiencies and economic decline.
What were the fiscal balances in Latin America since the 1950s?
Fiscal balances have been ‘permanently’ negative since the 1950s, indicating spending exceeded revenues.
This trend contributed to the debt crisis of the 1980s.
Who were some classic populist leaders in Latin America?
- Juan Domingo Perón (Argentina)
- Lázaro Cárdenas (Mexico)
- Salvador Allende (Chile)
- Getúlio Vargas (Brazil)
- Alan García (Peru)
These leaders exemplified populist policies and rhetoric in their respective countries.
What is the typical political base for populists in Latin America?
New urban organized workers and industrialists benefiting from state-led policies.
This coalition often supports populist agendas that favor their interests.
What is ‘neo-populism’?
A resurgence of populist policies in the 1990s aligned with neoliberalism.
Neo-populism often reflects a blend of populist rhetoric with market-oriented reforms.
What is ‘left-wing populism’?
A form of populism that emerged in the 2000s, characterized by leftist leaders and policies.
This variant emphasizes social justice and anti-neoliberal sentiment.
What is ‘right-wing populism’?
A populist movement that has gained traction in the 2020s, often focusing on nationalism and anti-immigrant sentiments.
Right-wing populism tends to emphasize traditional values and skepticism towards globalization.
Fill in the blank: Inflation is a _______ on consumption.
hidden tax
This concept highlights how inflation erodes the purchasing power of consumers, especially the poor.
What is a common criticism of populist economic policies?
They often prioritize short-term gains at the expense of long-term economic health.
This can result in unsustainable fiscal practices and eventual economic crises.
What decade is referred to as the starting point for the discredit of established political parties?
1930s
The 1930s marked significant political changes and the rise of populism.
What was a key factor in the rise of populism during the 1930s?
Massive discredit of established political parties/regimes
This discredit was largely due to claims against ‘Oligarchic Liberalism’ and the elite.
Which social groups were co-opted by populist movements?
- Unionized labor
- Urban middle classes
- Industrialist workers
These groups played a significant role in the political landscape during this period.
What does ‘Tocqueville Effect’ refer to?
Economic progress leading to new demands for change in education and institutions
It highlights the relationship between economic development and social change.
What characterized the political landscape during the Colombian ‘Violence’ period?
Armed conflict around land starting in the late 19th century
This period was marked by significant social and political upheaval.
What was one outcome of the Mexican Revolution (1910-1920)?
Opposition of peasants vs Hacendados led by rising inequality
The revolution was driven by social and economic disparities.
