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The term "alt right" was coined by a white supremacist to describe the racist right movement. Trump's campaign head used to run Breitbart, which he described as a platform for the alt right. Not really equivalent. It is the movement. Further, if someone wrote a manifesto of the alt right, no one else associated with the movement would be obliged to accept it as representative.
Now, someone who considers himself on the right and rejects both the alt right and the mainstream right is a different story.
The term "alternative right" has been used by numerous people to describe the rise of a viable alternative to the declining conservative movement. Spencer did not truly "coin" anything.
http://www.unz.com/article/the-decline-and-rise-of-the-alternative-right/
The alt right, in its current form, is nothing more than a loose collection of "alternative" right-wing ideologies, and there is an active power struggle within to establish which ideologies prove out to be stronger and more effective. In time, I reckon that the more extreme views will be "ironed" out, with the likes of Spencer being kicked to the curb, in order to be able to enter mainstream politics as anything more than a counter-cultural laughing stock.
The same way that people like this:
http://www.cbc.ca/news/canada/toronto/black-lives-matter-controversial-tweet-1.3523055
Will eventually have their role be downplayed in the "BLM" movement.
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