A comment in the Trump wins presidency for second time thread on Hacker News I feel like summarized the situation very well:
The reason for this [the recent rise of the far-right and populism] isn’t a mystery: the world doesn’t work for the plurality of its populace. The current generations were sold a lie of infinite prosperity and comforts by their elders and governments, a lie built on the exploitation of former colonies and underdeveloped nations. We see the lie now, and know it cannot be sustained in the face of our current polycrisis (climate, housing, necessities) simply by promoting infinite growth. There’s an understanding that we need to curtail consumption and start properly engineering a global economy rather than letting it spawn and mutate naturally, but there’s still enough people out there who believe that this demagogue, this partisan, this policy will give them the riches and posh comforts their elders enjoyed, thus returning their country to a golden era that never really existed.
It’s the desperation of the masses for what they feel is rightfully theirs, because that’s what they were told by those who pulled up the ladder behind them. That era is long gone, but nostalgia is a powerful force that’s easily propagandized by those who benefit from said desperation.