Today we are announcing the formation of American Compass, an organization dedicated to helping American conservatism recover from its chronic case of market fundamentalism. In preparation, we have been perusing the mission statements of many of our nationās think tanks. Nearly every group has one. Oddly, the right-of-centerās preeminent public-policy institutions all have the same one: to advance the principles of ālimited government, free enterprise, and individual libertyā or āfree markets and limited, effective governmentā or āfree enterprise, limited government, individual freedomā or āindividual liberty, limited government, free marketsā or āeconomic choice and individual responsibilityā or āindividual, economic, and political freedom; private enterprise; and representative government.ā
Without question, those principles are vital. But an emphasis so monotonal is neither supportive of effective deliberation nor genuinely conservative. āWhy donāt we look at a policy and just ask, does it expand economic freedom?ā suggests Heritage Foundation vice president Jack Spencer. Because there is more to life than economic freedom. Also, there is more to economic freedom than economic freedom. A society that attempts to maximize everyoneās freedom at every moment will fail miserably in preserving individual liberty and limiting government over time.
What is missing from our public debates is a distinctively conservative approach to economics.
Recommended Reading
Republicans Are Misremembering Their Record of āFiscal Disciplineā
If conservatism is to regain its footing, the New Right will need better solutions than what Trump has offered. But a return to what came before him is no solution at all.
New Collection: Supply-Side Economics Beyond Tax Cuts
Long-term analysis shows the ineffectiveness of the Bush and Trump tax cuts
The Curse of Voodoo Economics
Conservatives should favor limited government, not reflexive tax cuts