The article provides an overview of the literature on populism (pop.) as a social phenomenon with a broad and growing reach. It discusses the essence and variations of pop., highlighting its impact on the economy. Pop. is defined as a way of conducting politics that opposes ordinary people to elites and implements the "will of the people" through the actions of its leaders. The basis for the development of p. lies in feelings of disappointment, and anger among large social groups. Pop. leaders mobilise supporters by exploiting the neglect of important social issues by the establishment and promising simple solutions to complex problems. Pop. leaders in power implement policies aimed at short-term benefits at the expense of long-term sustainability and destroy liberal democratic institutions. New research has identified periods of pop. governance in many countries in the 20th century and assessed the impact of them on long-term economic outcomes and living standards as definitely negative. Against this backdrop, the pop. policies present in Poland from 2016 to 2023 are shown, conducted in a way that may bring about negative consequences similar to those observed in other countries.