'Cause the simple man, baby, pays the thrills
The bills, the pills that kill
In 1992 Murray Rothbard mathed out the concept of populism. He proposed that we are ruled by a coalition of Throne and Altar. Throne represents a mixture of politicians, bureaucrats, and various big business groups. Altar represents technocrats and intellectuals, including academics and media establishment who constitute the opinion molding class in society.
Throne and Altar have, thru the redistributive operations of big government, privileged and elevated a parasitic Underclass. Through their political alliance with strong armed government agents, the Underclass effectively loots and oppresses the bulk of middle and working class America.
These exploited people are the populists (which resemble Sumner's Forgotten Man).
The math looks like this: (Throne + Altar) - Underclass = Populists