Broken Britain 9: ‘populism’ is really ‘anti-elitism’ – a backlash due to economic and political inequality
Stephen Latner, an FT reader, reminds columnist Philip Stephens – and a whole range of commentators – that it would be more accurate to describe “populism” as “anti-elitism” and acknowledge that the backlash is not down purely to economic factors but political as well . . .
Philip Stephens had explained that the explanation for a rising sense of grievance and a collapse of trust in the old political order is to be found in the answers to the opinion poll question asking people if they expect a better life for their children:
“Voters are now more likely to answer no than yes. The march to progress, they assume, has ended . . .The pain is made the more acute when a small minority can indeed pass on great power and wealth to their children . . .”
Latner adds that many voted for Brexit because of the perceived elitism of the EU (“an unelected, non-transparent, central bureaucracy”) and sees that new technology – ‘the digital age’ – is ensuring that elitism will come under fire and more centralisation of political power will be seen as elitist and unacceptable.
Stephens supplies the element missing from Latner’s analysis – the added burden of a political elite allied with the wealthiest corporates:
“At its simplest, establishing trust is about behaviour. Today’s elites should ask themselves just when it became acceptable:
- for politicians to walk straight from public office into the boardroom;
- for central bank chiefs to sell themselves to US investment banks
- and for business leaders to pay themselves whatever they pleased”.