Arendt described fascism as “the temporary alliance of the elite and the mob” - very temporary, and more exploitation than alliance I'd say. The elite despises the mob it claims to love. The mob is only the few percent of louts that are prepared to break the law and smash heads. The "elite" in this case is not an intellectual elite but a monied one - and only the part of that clan nursing narcissistic wounds. I see this a psychological phenomenon more than an economic one, much less a political one. The politics, for most people, get bolted on to suit the grievance. The politics is the way you convert the personal into the public. The myth-making is vital for that, and PM makes that clearer, and more salient, than anyone.