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Hits home but misses big on the business and economic drivers.

* low interest rates - bid up nearly all asset prices, but especially primary homes, mostly to the benefit of 401k and home owners who rely on those prices going up for their retirement

* financialization and globalization dogma killed GE as much as ‘MBA mismanagement.’

* tax cuts in the 2000s feel more like reactions to 9/11 + related national fear and dotcom crash than a ‘waste’ and led to massive corporate profits that potentially helped establish the supremacy in tech that wasn’t necessarily guaranteed.

The hangovers of those economic policies, more than anything else, I think is probably driving the current friction in conservatism.

A lot of people out of the financialization system have really been left behind and an increasing number can’t afford to pay the bid up asset prices in competitive markets.

And no one, in particular the later generation who depend on these asset prices remaining high, have interest in letting the market do the work. Panics and crashes ‘destroy’ massive amounts of value.

So then how to speak to a new conservative coalition?

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Keith Hartman's avatar

Excellent column, Oren, as always. My oldest child was born in 1984, so you know about where I fall on the spectrum.

Times change, conditions change, context changes, and we have to change with it. We get better through continuous improvement, by adapting and adjusting. There’s a saying in business that if you’re not moving forward then you’re going backward. Stasis is not an option.

William F. Buckley, Jr. and Ronald Reagan were giants, in their time. In their time. But it’s time to move on. It’s good to honor them, but it does no one any good to worship them.

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