The year I was a graduate student at the London School of Economics overlapped with the peak of pro-EU sentiment. It was the year of the single largest accession of 10 new member states.

As a student of post-communist transition in Central and Eastern Europe, this was a match made in heaven. Critical viewpoints of EU enlargement were not welcome, and my initial Master’s thesis about a right-wing backlash was not accepted; the question was determined irrelevant.

That year, 2003-2004, was one of history’s crossover moments: It was the end of Fukuyama’s post-Cold War “End of History” and the early years of anti-globalization, as embodied by the Seattle World Trade Organization riots in 2000 and the publication of Joseph Stiglitz’ Globalization and Its Discontents.

Fast forward to 2026: Anti-globalization dominates the far ends of both the right and left.

This is what went through my mind as I watched a progressive political rally last Sunday, June 14, at the State Capitol.

What I saw — and what I’ve seen since Oct. 7, 2023 — are a lot of people who are lost and glom onto an orthodoxy because of the community it creates and the feeling of righteousness it imbues.

It’s a mirror image of the populist push toward Trump.

True, establishment politics have a lot to answer for. Both sides maintain a status quo that is increasingly disconnected from individual American’s lives. The government bailouts of the “Too Big to Fail” banks after the global financial crisis of 2008 was a turning point for many who came of age in that era. Capitalism, an economic theory I fully subscribe to, is intended to lift all boats — not necessarily equitably, but with improvement for all. Overall, it has done that. But if capitalism loses that benchmark, where too many boats are sinking, adjustments must be made.

My friend at JP Morgan, whom I mentioned last week, also taught me about K-shaped recovery, where sectors are recovering from recession in radically different ways.

The Denver rally on Sunday — as echoed in the election of far left, progressive candidates — is a bellwether.

Note: I am not comparing those at the State Capitol on Sunday or the US president with the following groups. I am observing an analogous trend that could serve as a cautionary tale.

The Islamic Republic of Iran, Hezbollah and Hamas all started the same way — as anti-establishment movements. They started by providing social welfare to members of their populations who weren’t being served by the government.

If those in power continue to ignore constituents’ grievances, other actors fill the vacuum.

It’s why Trump was twice elected.

If politicians choose to focus on their political opponents and instead of their constituents, the cycle of dissatisfaction, on both side, will continue to fester. That is a death knell for democracy.

Shana Goldberg may be reached at shana@ijn.com

© IJN 2026