This article analysis the development of the degree of populism in the Swiss political discourse between 1947 and 2011. Based on a quantitative content analysis of the election manifestos of all relevant Swiss parties in this period, the results show that it seems exaggerated to speak of a current “populist Zeitgeist” as it has been argued. The new radical Right in Switzerland, which dominated the populist discourse during the last two decades is just the newest version of highly populist new outsider-parties from the whole political spectrum which entered the Swiss party system since the after war period. Populism therefore has to be seen rather as a constant companion of democracy then a (con-) temporary phenomenon.