Reports of Populism's Death are Premature

         

                   Following the first round of voting in France's presidential, Emmanuel Marcon looks to be on his way to a victory in a runoff against far-right candidate Marine Le Pen. While this is reassuring news for many investors not to mention voters, the appeal of populism certainly remains. One interesting point this article raises is that even if a candidate like Marine Le Pen were to lose, populists would find themselves in the advantageous position of being an opposition force. In other words, they could claim that "every subsequent economic setback, every terrorist incident" was due to the lack of populist policies. Additionally, although Marcon is considered to be a Centrist candidate recent history has shown mainstream politicians being willing to adopt stances that are, at times, more in line with the Conservative parties they compete against (e.g. the Labour party in Britain putting forth a Brexit policy of accepting freedom of movement so as to attain access to the single market and customs union.).

              Similar to the United States in this previous presidential election, the French vote was also importantly divided between the more cosmopolitan voters in larger cities and individuals living in more rural towns and the countryside. As globalization continues and immigration remains a key issue, it seems likely that France will face more populist candidacies with its future path very much undetermined at the current moment. Which route is France most likely to take in the coming years? 

http://www.economist.com/blogs/buttonwood/2017/04/politics-and-markets