American hybrid: Donald Trump and the strange merger of populism and plutocracy.

Any effort to situate Trump's ascendance in the broader currents of cross-national developments, or in the longer course of American political development, must begin by recognizing it as a curious hybrid of populism and plutocracy. Although American right-wing populism has real social roots, it has long been nurtured by powerful elites seeking to undercut support for modern structures of economic regulation and the welfare state. American political institutions offered a distinctive opportunity for a populist figure to draw on this fury to first capture the nomination of the GOP, and from that position to ascend to the White House. Yet the administration's substantive agenda constitutes a full-throated endorsement of the GOP economic elite's long-standing demands for cuts in social spending, tax reductions for the wealthy, and the gutting of consumer, worker and environmental protections. The chasm between Trump's rhetoric and his actions justifies a more skeptical assessment of the breadth and depth of American populism, one that acknowledges how its contours are shaped by the nation's unusual political institutions, its intensifying political polarization and the out-sized influence of the wealthy.