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Populism in less developed countries is somewhat different

Pranab BardhanThe ill-defined term ‘populism’ is used in different senses not just by common people or the media, but even among social scientists. Economists usually interpret it as short-termism at the expense of the long-term health of the economy.They usually refer to it in describing macro-economic profligacy, leading to galloping budget deficits in pandering to all kinds of pressure groups for larger government spending and to the consequent inflation — examples abound in the recent history of Latin America (currently in virulent display in Venezuela). Political scientists, on …
Source: Business Standard