"... I don’t see
why conservatives ought to defend a system that permits securitizing
mortgages (or car loans) in a way that seems to make the lenders almost
unaccountable for the risk while spreading it, toxically, everywhere
else. I don’t see why a commitment to free markets requires permitting
banks or bank-like institutions to leverage their assets at 30 to 1.
There’s nothing conservative about letting free markets degenerate into
something close to Karl Marx’s vision of an atomizing, irresponsible
and self-devouring capitalism.
"If conservatives do some difficult re-thinking in the field of political economy, they can come back. If they don’t — well, there were a lot of admirable conservative thinkers and writers, professors and novelists, from 1933 to 1980. But conservatives didn’t govern."
"If conservatives do some difficult re-thinking in the field of political economy, they can come back. If they don’t — well, there were a lot of admirable conservative thinkers and writers, professors and novelists, from 1933 to 1980. But conservatives didn’t govern."
