Classical liberalism is in the worst shape since I began these year-in-review columns. Some may blame this radical decline on the President, certainly no classical liberal. But that would be wrong. Classical liberalism faces stronger headwinds than Donald Trump and they extend far beyond the United States.
Domestically, the greatest danger to classical liberalism is the sharp left turn of the Democratic Party. This has been the greatest ideological change of any party since at least the Goldwater revolution in the Republican Party more than a half a century ago. Not only is an avowed socialist, Bernie Sanders, a serious candidate for the President, he has pulled other Democrats along toward his positions. Elizabeth Warren, until recently the frontrunner for the Democratic nomination, is the second most radical contender in the last five decades. She demonizes people who have made a lot of money, wants to control the health care system, expand social security with new taxes, and force corporations worth more than one billion dollars in equity to serve the interests of ill-defined stakeholders rather shareholders and take direction from directors elected by employees. Ramesh Ponnuru has rightly characterized Pete Buttigieg as Warren-lite. For instance, he too wants Medicare for All–but not just yet. The danger to long-term innovation in health care, however, comes just from the prospect of future government control as it dries up investment. Warren and Buttigieg threaten the rule of law as well—a core pillar of classical liberalism—with proposals to change the membership of the Supreme Court by statute.
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