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You are here: Home / Economy / The Economics of Faltering Fascism

The Economics of Faltering Fascism

February 27, 2026 at 8:21 am EST By Taegan Goddard Leave a Comment

Paul Krugman: “I believe that most successful authoritarian takeovers occur in the aftermath of economic crises — crises that the newly installed dictator can claim to have solved. In an ideal world people wouldn’t accept tyranny just because the tyrant appears to deliver a higher standard of living. In the real world, however, they often do.”

“But that tactic is unavailable to Trump. While he can and does lie about the Biden economy, claiming that it was catastrophically bad, while touting the current economy as the greatest ever, people aren’t buying it. A plurality of Americans now say that Biden was a better president than Trump, and a majority say that the economy under Biden was better. Trump simply can’t gaslight Americans into disbelieving their lying eyes and wallets.”

“Could Trump possibly adopt policies that win broad public approval, thereby greasing the rails for his demolition of democracy? Maybe, but he would have to become a genuine populist. Trump would have to implement policies that actually help working families while at the same time taking on the plutocracy.”

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About Political Wire

Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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