Economics and Politics Revisited: Executive Approval and the New Calculus of Support

What drives government popularity? For decades, scholars, journalists, and political pundits alike have converged on a single answer: the economy. A rising economy lifts the popularity of the government, and if the economy's fortunes turn south, so too does that of the government. This conventional wisdom informs politicians' decisions as well as the scholarly commentary on parties and elections. Yet the conditions that underlie this model have changed in many countries as globalization has...