All over Europe, parties like Marine Le Pen's National Front in France are setting records for nationalist support. Meanwhile Poland and Hungary are already ruled by nationalist governments.

These nationalist movements have a lot in common. In particular, they object to a set of policies that have been imposed on a global basis by the center-left forces who have dominated politics for the last 20 years.

They also object to the decline in living standards brought about by globalization – a product of free trade that's been exacerbated by ultra-low interest rates and excess regulation.

Another issue is the increase in immigration flows in recent years, which also tends to depress living standards. Finally, nationalists object to the erosion of traditional cultural values that have come with globalization and homogenization.