This statement is a frontal assault on the most hallowed principle of modern conservative economic policy — that market transactions should be given preeminent weight when setting public policy. That idea is often observed in the breach, as are so many ideals. Taken seriously, as many doctrinaire libertarians do, it means the abolition of most of the modern state and especially its social welfare programs. In the hands of movement conservatives, it has meant an unyielding opposition to any new taxes and almost all new government programs, as well as a strong presumption in favor of cutting regulation and spending wherever possible. Above all, it has meant that government cannot “pick winners and losers” and must remain passive and silent even if the market’s movements create losers of millions of Americans.