Timothy P. Carney never uses that exact term, but he explains it well in an interview with Nick Gillespie. Well worth a viewing.

Near the end, the question comes up about whether “libertarian populism” is an antidote. I think that the goals of libertarians need to go beyond influencing elections. I think that the more radical ideal of competitive government is what we should aim for. Libertarian populism might be helpful in the short run, but I worry that people could place too much faith in elections and in candidates.