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Americans often think of demagogues as a feature of foreign countries with weak or non-existent democracies. But is it possible to still get a demagogue in a functioning and strong democracy? That\u2019s the argument of Mehdi Shadmehr in his paper: \u201cDemagogues and the Fragility of Democracy\u201d (https://tinyurl.com/rpdymkz).\n\nOne of the scariest features of this research is that once a country elects a single demagogue they can create a political death spiral that can lead the country into financial ruin.