Former Hungarian Prime Minister Viktor Orban’s spectacular landslide defeat last month has been interpreted as a setback for the European right. It is not. Rather, it is the most recent signal of a deeper trend in the democratic West: the transformation of the far right into a populist-inflected conservatism. Sworn in as Orban’s successor on May 9, Peter Magyar is neither a liberal nor a centrist. He waged an election campaign from the moderate right, retaining a populist emphasis on national