Political instability. Rising inflationAn increase in the price of goods in an economy.  and stuttering economic growth. Right-wing demagoguesA leader who takes power by whipping up the people against the elites, usually in a cynical and self-serving way. rage against immigration.

This is not 2024, nor 1924. It is Europe in 1973, the last time people thought history might be repeating itself.¹ But in the end, the liberal order survived and flourished.

Now the comparisons are back. In European elections over the weekend, the far-rightA range of ideologies that emphasise social order, racial purity and the elimination of opponents. triumphed in France, Austria, Belgium and Italy and made gains in Germany.²

Will this be another blip? Or will the far right finally overthrow the liberal order this time?

Some say the far right is not what it was 100 years ago. It is more subtle, and so more dangerous. 

Back then, far-right parties denounced democracyA system of government based on the idea of rule by the people. as weak and inefficient. Today the far right presents itself as the only true defender of democracy. Its aim is not to destroy democratic systems but to use them for their own purposes.

So when they get into power, they gain control of the press and the legal system and use them to harass their opponents out of public life.

That means democracy is never formally abolished. Elections continue, but the far-right parties rig them in their favour.

However, that policy can backfire. In India last week, prime minister Narendra ModiThe prime minister of India. He inspires passionate support from many in his country, but his critics regard him as populist, anti-Muslim and authoritarian.'s efforts to rig the election failed, and he lost his majority.

That is why some are hopeful this might be the high tide of right-wing populismA type of politics that claims to represent the common people in the fight against a powerful and "elite" establishment.. The far right's strength in ScandinaviaThe name given collectively to Denmark, Norway and Sweden, three of the northernmost countries of Europe. The three countries have similar languages and political systems. has long been growing, but in this election left-wing and Green parties gave them a bloody nose.

The far right is good at campaigning but bad at governing, they say. People soon grow tired of them in power and chuck them out.

Others think the problem is not the far right getting into power. It is liberal adoption of far-right politics.

Across Europe centre-right governments have placed tighter restrictions on civil liberties, especially the right to protest.³ Just last week, President Joe Biden announced a sweeping executive order to ban new arrivals in the USA. Some compared him with Donald Trump.⁴

So to fixate on the far right parties, they say, is a mistake.

Is history repeating itself?

Yes: Right-wing populists are on the cusp of taking power across Europe. They will probably win the next elections in France, Belgium and perhaps even Germany. It is the beginning of the end.

No: The far-right today is different. It tolerates and even supports democracy and enters into coalitions with other parties. We are not going to see dramatic fascistFollowing fascism, a set of ideologies that advocates dictatorial power, political violence, suppression of opposition, traditional gender roles, and official racism. takeovers as we did in the 1920s.

Or... It is true that the modern far right does not wear jackboots and overthrow governments. But what makes it truly dangerous is its ability to make liberal governments adopt its ideas.