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Financial crises hurt the middle class, reducing their support for the status quo in favor of insurgent, aka populist, candidates.

Luigi guisoDani rodrikTommaso sonnoMassimo morelliEuropean social surveyUniversity of warwickEuropean socialBocconi universityEinaudi institute for economicsUniversity of bolognaAxa professorHousehold financeEinaudi institutePolitical scienceAssistant professorHelios herrera