When voters fear that politicians may have a right-wing bias or that they may be influenced or corrupted by the rich … right. Truly right-wing politicians respond by choosing more moderate, or even left-of-center policies. This populist bias … polarization between the policy preferences of the median voter and right-wing politicians; when politicians are indeed more likely …

When voters fear that politicians may have a right-wing bias or that they may be influenced or corrupted by the rich … right. Truly right-wing politicians respond by choosing more moderate, or even left-of-center policies. This populist bias … polarization between the policy preferences of the median voter and right-wing politicians; when politicians are indeed more likely …

When voters fear that politicians may have a right-wing bias or that they may be influenced or corrupted by the rich …-wing politicians also signal by choosing moderate or even left-of-center policies). This leftist bias of policy is greater when the … of the median voter and right-wing politicians; and when politicians are indeed likely to have a hidden right-wing agenda …

When voters fear that politicians may have a right-wing bias or that they may be influenced or corrupted by the rich … right. Truly right-wing politicians respond by choosing more moderate, or even left-of-center policies. This populist bias … polarization between the policy preferences of the median voter and right-wing politicians; when politicians are indeed more likely …

We develop a theory of political transitions inspired in part by the experiences of Western Europe and Latin America …