Populists and authoritarians – Understanding where the discontent stems from

Why are more and more people voting for Trump, the AfD and the like? The usual explanations fall short.

Drawing on recent research, Thomas Fricke reveals the true causes of global populism: a loss of control, a sense of powerlessness, and market liberalism that has failed over decades. He analyses why austerity policies systematically fuel populism – from Brünings’s austerity measures in the Weimar Republic to Lindner’s budgetary policies – and what role inflation played in Donald Trump’s election victory.

Tech billionaires such as Elon Musk and Peter Thiel portray themselves as saviours of freedom – whilst building new power structures beyond democratic control. At the same time, authoritarians are gaining ground. What is going wrong here? What is needed to protect democracy against ‘broligarchy’ and populists? And how can we win back those who have lost faith in democracy?

At the launch of the New Economy Talks series on 26 February 2026 at Basecamp Berlin, Aya Jaff and Thomas Fricke discussed the causes of these developments and the economic and socio-political responses now required.

Here are the videos and transcripts from the event:

👉 Thomas Fricke: How the economic crisis benefits the right

👉 Aya Jaff: Tech giants are a threat to democracy