ABSTRACT A factor that may account for the largely unanticipated victory of Brexit in 2016 is the difference in engagement, mobilization, and, ultimately, turnout between those for whom the question of Brexit was a valence issue and those for whom it was a positional issue. The declining appeal of valence politics may reveal a phenomenon that goes beyond Brexit and Britain: a change in the nature and character of contemporary electoral competition that may help to explain the newly resurgent populism (...) characteristic of Western liberal democracies. (shrink)