
Suanne G. answered 11/16/19
Graduate-Degreed History Expert and Writer
In the most cynical view, you could say that the reason populism never succeeded as a true party is because it didn't appeal to the elite, educated population who held the reins of political power. The whole thrust of populism is an "us versus them" mindset, and in the earliest version of the movement, the "them" was a nebulous elite: educated, well-off, typically living in urban centers.
There are considerable parallels in today's world. The difference is, though, that the modern day "elites" are mistrusted because the average, low to lower-middle class population in many areas feels marginalized--their concerns (jobs, security, etc.) take second place to political manipulations and power plays, at least in the view of these groups. In this iteration, there's an added mistrust of the "other"--anyone who doesn't act/look like/live near me is suspect, and this plays into many of the same concerns of populism in general.