The socioeconomic definition of populism applies the term to what it regards as an irresponsible form of economic policy by which a government engages in a period of massive public spending financed by foreign loans, after which the country falls into hyperinflation and harsh economic adjustments are then imposed. This use of the term was used by economists like Rudiger Dornbusch and Jeffrey Sachs and was particularly popular among scholars of Latin America during the 1980s and 1990s. Since that time, this definition continued to be used by some economists and journalists, particularly in the US, but was uncommon among other social sciences. This definition relies on focusing on socialist and other left-wing forms of populism; it does not apply to other groups commonly understood as populist which adopted right-wing stances on economic issues.