Folk Economics and Democratic Backsliding Phenomenon

The article analyzes the influence of the so-called folk economics, which is quite widespread among non-specialists, on the electoral processes that have been taking place in recent years in a number of democratic countries, often interpreted as a democratic backsliding. For this purpose, the concept of folk economics, its content, causes and sources of origin, as well as factors of its stability over time are considered. It is shown that the corresponding beliefs consist in understanding the economy as a zero-sum game. On this basis, an overview of the studies of those political consequences generated by folk economics is given. The political process interpreted as the democratic backsliding is characterized, and it is shown that the factor of the presence of folk economics beliefs among the population of various countries is one of the reasons for the emergence of the democratic backsliding process. On this basis, it is concluded that effective measures to overcome the democratic backsliding must also include actions to ensure the retreat of the convictions of the folk economics beliefs.