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Correlation between tough economic times and the strengthening of far rights

Monday, 12 March 2012

During times of economic hardship or a crisis, the tendency tend to be that the political elections held in several countries this year is extra important.  This is because the likelihood increases that populist rightwing parties are gaining ground as they make lofty promises of things like “taking our country back from them”.

Frederick Langdal is a political scientist and researcher at Sieps, Institute for European Policy Studies and he speaks to radio Sweden:

“One of the more worrying scenarios is that the economic crisis contributes to the radicalization of politics. That is to say that you are getting an increasing number of larger populist parties which are gaining influence over the former’s policies.”
true-finnHe believes that the economic crisis have a social impact in the form of, for example, more long-term unemployed. Exclusion can make more people to vote for populist radical parties. Political parties that are often talking about globalization are seen as a threat to national cohesion and self economic development.

This is already noticeable in the Finnish parliamentary elections last year, according to Fredrik Langdal.

“You could see the True Finns politicized euro-issue and issue of aid to Greece. This is the clearest example we have so far on how the euro crisis has become politicized in this way.”
Economists warn that such political currents in turn will have impact on economic activity. Annika Winsth, chief economist at Nordea, says tat there is high risk that populist parties promise voters too much.

“If the market loses confidence in you to carry out the action promised, that will raise the cost to the countries. You’ll get to borrow at higher interest rate if you can borrow at all. Then you get to cyclical effects, firms can not invest, households can not consume or invest, and then we get a weaker economy with less labour, and it affects ordinary people.”
This is not what the modern Europe wants or is it?
By Team

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