What’s wrong with populism? Nothing, necessarily. But, to hazard a tautology, populism is only as good as the people. I think this territory was covered pretty well by Alexis de Tocqueville, whose view was in turn covered pretty well by Sam Gregg in mentary of a couple weeks ago:

“The American Republic,” Tocqueville wrote, “will endure until the day Congress discovers that it can bribe the public with the public’s money.”

As Sam notes, Tocqueville cited the importance of religion as a bulwark against the drift to despotism. I don’t think it’s any accident that there is a public policy lean toward socialism at the same time as a perceptible weakening of religious adherence. The relationship plicated (plenty of liberty-loving agnostics; plenty of Christian socialists), but at the level of generalization, religion (Christianity in particular) fosters centers of authority and action that are independent of the state and resistant to tyranny. It encourages virtue and concern for mon good. In short, it promotes those traits that might drive populist sentiment and action in helpful rather than harmful directions.