Let’s Rebuild This Thing, People!
An Economic Agenda for the GOP(from City Journal)
If Republicans ignore popular anger, as the party establishment did last autumn, they leave a powerful and potentially disruptive force in the hands of Democrats. The majority of the Democratic establishment does not believe in the American dream, in the importance of providing incentives for economic growth, or in the market as the best mechanism to allocate available resources. The Democrats could channel popular anger into protectionism, 90 percent tax rates, and onerous new market constraints…
In Republican hands, though, populism could become a strong force for positive change…Thus a wise pro-market party understands that any strategy is only as good as it is politically sustainable. Markets enjoy political support primarily because of the well-founded belief that they do a better job of providing goods and services than any other arrangement. This conviction often weakens during major crises like the current one. So a pro-market party should favor a robust safety net—for people, that is, not companies. Of course, this safety net should be run on market principles as much as possible. For example, unemployment insurance should retain incentives to look for work, and the health-insurance industry should be opened up to competition. But defenders of markets cannot ignore the importance of providing such security for citizens. (Above link or here for more.)