The article examines two decades of Jerry Rawlings’ rule in Ghana. It seeks to explain why Rawlings’ revolutionary populism did not develop in the direction that he envisaged: a new kind of popular democracy. Instead, Rawlings oversaw the reintroduction of Ghana's popularly preferred political system: ‘Western-style’ multi-party democracy, despite his avowed intention of not doing so. To what extent was this outcome surprising or puzzling? The article explains that it was neither surprising nor puzzling as Rawlings’ regime, the PNDC, lacked the capacity to introduce a radical new political system, despite his desire to do so. His aim – to craft a new kind of popular democracy – was not achievable as both internal and external opposition forces were stronger in their desire for multi-party democracy and a neo-liberal economic system.