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Mike Moschos's avatar

Very eloquently written and interesting! And I appreciate how you noted the whig angle, yeah thats at they were, in fact I think in some senses, our two parties were secretly taken over by two factions of the old whigs.

I wish people knew about just radical their (and their post war counterparts in the Dems) program truly was/is, and how effectively contrary and in some ways even anti the American tradition it was/is. Our system was radically transformed in the 1970s/1980s: the advent of the Neoliberal Era in the USA was far more radical than commonly understood, for example, its most profound structural transformations were in banking and finance, dismantling systems that, with few exceptions, were not New Deal era constructs as we are typically taught, but rather institutions that had existed in some cases since the nation's founding and others that had been established by the Jacksonians in the 1830s and 1840s. The USA was never a Keynesian state in the European sense; even at the height of the New Deal in the 1930s, it retained a politically semi-decentralized, economically semi-decentralized, and scientifically semi-decentralized structure with deliberate redundancy and policy variability, including in economic governance. Unlike Europe, where state-led economic planning was more centralized, the U.S. system maintained substantial regional and institutional diversity well into the postwar decades. The neoliberal turn of the 1970s and 1980s did not simply undo a mid-century Keynesian order but instead marked the dissolution of deeply ingrained mechanisms of economic diffusion, financial checks, and local policy autonomy. features that had long balanced national integration with fragmentation, generating competition, innovation, and resilience and were deep and fundamental elements of a long evolving socio-political project that note that descended from the European Enlightenment.

And the darkest comedy of all is that its effectively the diametrical opposite of what their program claimed/claims to be because it effectively instituted central planning, just via the private sector. In the latter 20th century, banking and finance were centralized through deregulation that removed barriers to interstate banking and the various capital flow inhibitors that had existed fully for ~140 years since the 1830s, allowing a small number of financial institutions to dominate investment and capital allocation. This concentrated control over credit, investment, and mergers, favored supers over smaller and medium firms. At the same time, interlocking directorates created a management superstructure that made coordination between large firms, limiting competitive pressures while coordinating decision making related to investment allocations and many other things. Big consultancies, which serve as gatekeepers to corporate strategy, further reinforced this by standardizing business practices and ensuring that only a handful of firms dictated industry wide decisions.

Business schools also played a role in socio-professionally homogenizing corporate leadership, producing executives trained in the same ideologies, reinforcing managerial consolidation, and ensuring that corporate decision-making adhered to a centralized logic rather than competitive market forces. Meanwhile, various other forms of cartelization, such as industry-wide lobbying for nationally harmonized regulatory (and remember, the word regulatory applies to several very different things), regulatory capture, or informal agreements enabled by all of the above, further insulated dominant firms from competition while coordinating activity, turning industries into private-sector equivalents of planned economies.

This is private sector central planning: a system where key economic decisions are made not through open market competition and politically and economically diffused decision making by large and diffused groupings of variegated actors but through a tightly controlled network of financial institutions, corporate boards, and consulting firms and other that coordinate strategies, allocate resources, and shape markets from the top down. The structure of economic power has shifted from a decentralized, competitive environment to one where market outcomes are largely dictated by a concentrated elite operating within a quasi-coordinated system that mirrors central planning, except it's done by private entities rather than the gov (although the gov plays a big role but 1) this concentration has made those actors drivers of state decision making and 2) the state itself has become very centralized by the removal of states and localities from real economy economic matters and 3) the govs themselves have seen similar homogenizing of decision makers along with stark declines in broader population and small/medium business representation)

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Ziggy's avatar

Superb post. Given the centrifugal forces within conservatism, what is the glue that binds the libertarians to the Dominionists/Integralists? Once you start trying to balance virtue and liberty, the center-right of the Democratic Party starts exerting a gravitational pull. What counters this? A kind of political oppositional-defiant disorder?

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