The rise of illiberal populism in Europe and Latin America challenges the governance systems of both regions in an era of uncertainty characterized by a crisis of hegemony. Although with different expressions, these forces have in common the use of simplistic narratives, a strong emotional mobilization, and the rejection of liberal principles. This chapter explores this rise, which, far from being conjunctural, refers to deeper problems of democracies. First, it analyzes the causes of the malaise that has led many citizens to support these formations, with a special interest in the emotional dimension. Secondly, it studies the dilemmas of the left and the difficulties in proposing a progressive agenda. The conclusion is that new sources of legitimacy will require more than attractive narratives and combining forward-looking alternatives with effective shorter-term responses.