The Republican Party has drifted toward a market fundamentalism in which freer markets and bigger tax cuts are the answer to every question. Pennsylvania Sen. Pat Toomey recently declared that “capitalism is nothing more than economic freedom.” And former US Ambassador to the UN Nikki Haley tweeted that “as we are dealing with changes in our economy, tax cuts are always a good idea.”
This is not conservative in any meaningful sense of the word. Conservatives value economic freedom, absolutely, but a well-functioning economy is a means to the greater ends of strong families, stable communities and a flourishing nation under limited government.
Markets are wonderful, but they only solve some problems. And, sometimes, they are the problem.
Contrary to Toomey’s assertion, conservatives recognize that capitalism only works when legal rules and a moral culture channel the pursuit of profit toward advancing the common good.
Conservatives should favor limited government, not reflexive tax cuts
Despite the priority traditionally given to the free flow of capital, many now argue that Beijing should be the exception, writes American Compass executive director Oren Cass.
Ezra Klein interviews American Compass’s Oren Cass about challenging the right-wing economic orthodoxy and its quasi-religious veneration of markets, and focusing instead on clear social goals that put families first, eschew economic growth as the be-all-end-all of policymaking, and recognize the inescapability of government intervention in the economy.