How does the recent tsunami of populism differ from the past waves? Why are traditional political parties of the centre-right and the centre-left struggling to hold on to their constituencies? At the heart of the challenges they face is the rise of populist movements — ones that straddle the left/right divide, combining elements of nationalism and social conservatism with the defence of entitlement programs, public ownership and protectionism. Professor Ergas’ presentation, which is intended to provoke discussion, will focus on some of the causes and consequences of these trends.