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Right Wing Political Extremism in the Great Depression

Author

Listed:
  • Kevin Hjortshøj O'Rourke
  • Alan de Bromhead
  • Barry Eichengreen
Abstract
We examine the impact of the Great Depression on the share of votes for right-wing anti-system parties in elections in the 1920s and 1930s. We confirm the existence of a link between political extremism and economic hard times as captured by growth or contraction of the economy. What mattered was not simply growth at the time of the election but cumulative growth performance. But the effect of the Depression on support for right-wing anti-system parties was not equally powerful under all economic, political and social circumstances. It was greatest in countries with relatively short histories of democracy, with existing extremist parties, and with electoral systems that created low hurdles to parliamentary representation. Above all, it was greatest where depressed economic conditions were allowed to persist.

Suggested Citation

  • Kevin Hjortshøj O'Rourke & Alan de Bromhead & Barry Eichengreen, 2012. "Right Wing Political Extremism in the Great Depression," Oxford Economic and Social History Working Papers _095, University of Oxford, Department of Economics.
    • Handle: RePEc:oxf:esohwp:_095
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Political Costs of the Great Recession by Mark Harrison
      by Mark Harrison in Mark Harrison's blog on 2012-04-25 02:04:34

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    Cited by:

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    3. Ponticelli, Jacopo & Voth, Hans-Joachim, 2020. "Austerity and anarchy: Budget cuts and social unrest in Europe, 1919–2008," Journal of Comparative Economics, Elsevier, vol. 48(1), pages 1-19.
    4. Eric B. Schneider, 2014. "Prices and production: agricultural supply response in fourteenth-century England," Economic History Review, Economic History Society, vol. 67(1), pages 66-91, February.
    5. C. Knick Harley, 2013. "British and European Industrialization," Oxford Economic and Social History Working Papers _111, University of Oxford, Department of Economics.
    6. Joshua Aizenman & Hiro Ito, 2020. "The Political-Economy Trilemma," Open Economies Review, Springer, vol. 31(5), pages 945-975, November.
    7. Funke, Manuel & Schularick, Moritz & Trebesch, Christoph, 2016. "Going to extremes: Politics after financial crises, 1870–2014," European Economic Review, Elsevier, vol. 88(C), pages 227-260.
    8. Xiaohuan Lan & Ben G. Li, 2015. "The Economics of Nationalism," American Economic Journal: Economic Policy, American Economic Association, vol. 7(2), pages 294-325, May.
    9. Martin Halla & Alexander F. Wagner & Josef Zweimüller, 2012. "Immigration and voting for the extreme right," ECON - Working Papers 083, Department of Economics - University of Zurich, revised Oct 2013.
    10. Silvia Marchesi & Giovanna Marcolongo, 2023. "Knockin' on H(e)aven's door. Financial crises and hidden wealth," Working Papers 518, University of Milano-Bicocca, Department of Economics.
    11. C Knick Harley, 2013. "British and European Industrialization," Oxford University Economic and Social History Series _111, Economics Group, Nuffield College, University of Oxford.
    12. Scott Urban, 2014. "Policy Options for the Euro: Heterodoxy Ahead," Journal of Common Market Studies, Wiley Blackwell, vol. 52(4), pages 742-757, July.
    13. Aled Davies, 2012. "The Evolution of British Monetarism: 1968-1979," Oxford University Economic and Social History Series _104, Economics Group, Nuffield College, University of Oxford.
    14. Eric B. Schneider, 2014. "Prices and production: agricultural supply response in fourteenth-century England," Economic History Review, Economic History Society, vol. 67(1), pages 66-91, February.
    15. Aled Davies, 2012. "The Evolution of British Monetarism: 1968-1979," Oxford Economic and Social History Working Papers _104, University of Oxford, Department of Economics.
    16. Schneider, Eric B., 2013. "Real wages and the family: Adjusting real wages to changing demography in pre-modern England," Explorations in Economic History, Elsevier, vol. 50(1), pages 99-115.
    17. Proaño Acosta, Christian & Peña, Juan Carlos & Saalfeld, Thomas, 2019. "Inequality, macroeconomic performance and political polarization: An empirical analysis," BERG Working Paper Series 149, Bamberg University, Bamberg Economic Research Group.
    18. Martin Halla & Alexander F. Wagner & Josef Zweimüller, 2012. "Does Immigration into Their Neighborhoods Incline Voters Toward the Extreme Right? The Case of the Freedom Party of Austria," Economics working papers 2012-05, Department of Economics, Johannes Kepler University Linz, Austria.
    19. Dalibor Rohac & Sahana Kumar & Andreas Johansson Heinö, 2017. "The wisdom of demagogues: institutions, corruption and support for authoritarian populists," Economic Affairs, Wiley Blackwell, vol. 37(3), pages 382-396, October.
    20. Proaño Acosta, Christian & Peña, Juan Carlos & Saalfeld, Thomas, 2020. "Inequality, macroeconomic performance and political polarization: A panel analysis of 20 advanced democracies," BERG Working Paper Series 157, Bamberg University, Bamberg Economic Research Group.
    21. Gyongyosi, Gyozo & Verner, Emil, 2018. "Financial Crisis, Creditor-Debtor Conflict, and Political Extremism," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181587, Verein für Socialpolitik / German Economic Association.

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    More about this item

    Keywords

    Great Depression; Political extremism; Voting;
    All these keywords.

    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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