Econographics
June 24, 2026 • 12:56 pm ET
Martin Mühleisen
Across Western societies, mainstream parties have weakened, and movements built around grievance and identity politics have grown. Governing coalitions assemble with more difficulty, remain in office for shorter periods, and find their room for structural reform increasingly constrained.
France has had five governments in three years, Germany’s two Volksparteien (people’s parties) together represent less than half the electorate, and the US has entered an era of unstable majorities in which neither Republicans nor Democrats reliably reflect the will of the median voter.
