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Roula Khalaf, editor of the FT, picks her favorite stories in this weekly newsletter.
(adjective and noun) the current holder of an office or position
For more than a century, one of the most fundamental concepts in political science has been the concept advantage of officials. You could call it electoral gravity, a force that pulls everyone towards the person or party running the show. There are many reasons. Being in power brings the benefits of strong name recognition, established fundraising networks, media relations and experience.
But it’s no longer clear whether that’s true, and many things that used to give impetus in the voting elections can now cause a backlash. in 2024, when more than half of the world’s population had the right to vote in elections, the current candidates were transferred from the US to the UK and beyond.
When the long-term trend throughout the democratic world has been strong economic growth and progress more broadly, it’s a good thing to have a record in power. Absent a nasty economic shock or an outrageous misstep, parties could launch successful campaigns focused on the tangible improvements they made during their tenure.
With stagnation now the norm, this turned upside down. “Vote us if you want four more years of flat living standards and other things getting worse” is not an obvious vote winner.
Similarly, in an increasingly fragmented media landscape where fledgling politicians can speak directly to voters, being known to major news organizations is no longer a big incentive. If Elon Musk wantseven the incumbent’s fundraising advantage may soon be a thing of the past.
If the trend continues, it does not bode well for reasonable centrists, for measured rhetoric, and for increasing policy successes. We seem to be in a new era where all candidates, incumbents and outsiders alike, have a strong incentive to run as populist skorojevićs, promising quick wins and radical reforms.
