Economic history aims at long-term analysis of economic developments. To explain the different economic growth experienced by the different countries, Angus Maddison collected a huge set of data on population and GDP. Robert B. The studies of Marks, on the other hand, emphasize that in the 15th century the economic center of the world was in Asia. But economic history doesn't just explain the long-term developments.

To those who consider themselves progressive the successes of Brexit and Trump have left them very scared. A number of sociological, political and demographic reasons have been mentioned. What can economic history add to this debate?

We can compare the Great Depression (crisis of the 1930s) with the Great Recession (2008 -...), analyzing similarities and differences. The roots of the Great Depression already existed. The First Globalization took place between 1870 and 1914, completely revolutionizing the world economy; but after this, the First World War destabilized the economic situation. “The 1920s are years of growth for some countries, of flexible and speculative credit. This weak growth erupted at the end of the decade, beginning the Great Depression.

Who were the losers of this crisis? In general, workers, but also small businesses and small agricultural owners. In the case of Germany, the Great Depression is the consequence of other serious crises that have occurred over the past decade. The great fortunes became even more enriched and social polarization increased a lot. To get out of the crisis, the usual politicians did not present anything new; others, including the ultra-right parties, used the new rhetoric to seize power; increasing expenditure on infrastructure and in the military sphere; with protectionist measures to protect industry and jobs; financial control ...

These measures were supported by the social groups most hit by the crisis. It didn't matter if it was the Democratic Party of the United States or the Nazi Party of Germany. The other thing is whether or not the implementation of these measures really protected these social groups. It should also be noted that it was the Second World War that ended the Great Depression, not those measures implemented.

The similarities with the current situation are obvious. The losers of Western Globalisation have opted for such measures so that their situation does not deteriorate further. And so far, those who have offered these alternatives have been Trump and other similar ones. This is how we can understand, through economic history, the success of these right-wing populists.