I t’s less an election result than a philosophical puzzle: what happens when a win contains a loss, a loss contains a win and the two collide? That’s the question posed by the confused and confusing outcome of this week’s Israeli election, one that, despite its murky uncertainty, offers clear, sharp lessons – both for that country and for those locked in combat with nationalist populists across the globe.

Start with the result that has simultaneously handed Benjamin Netanyahu a devastating defeat and a strong chance of staying on as prime minister, extending a run that has seen him lead Israel, on and off, for more than 19 of the past 30 years. The defeat is clear enough. At a stroke, his parliamentary majority was wiped out. Before Tuesday, the parties that together comprised his ruling coalition controlled 68 of the Knesset’s 120 seats: that tally has now shrunk to just 53 , far short of the 61 seats needed for power.…