Populist candidates have a way of making politics feel simple. They tell voters that the problem is obvious, the villains are known and the solution is to break through corrupt institutions standing in the way. That message can be emotionally powerful, but what happens after populists win? Why do they so often win the crowd but lose the plot?

Host Megan McArdle is joined by Richard Hanania, a political scientist and writer whose ideological journey has taken many turns. His new book, "Kakistocracy," argues that populism tends to produce worse leaders, weaker institutions, more corruption and a politics driven by resentment and conspiratorial thinking. They discuss why populism is so appealing and whether liberal democracy can rebuild trust.

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