The Editors:
As the American economy continues to evolve, it’s becoming increasingly clear that the libertarian economic model has not delivered the robust and secure middle-class existence that many Americans were promised. Instead of broad-based prosperity, we’ve seen rising inequality, stagnant wages, and the erosion of stable, blue-collar jobs that once formed the backbone of American society. This is where conservative economics, as championed by thinkers at American Compass, offers a compelling alternative, focusing on policies that directly support middle-class families, blue-collar workers, and the traditional values that underpin a strong society.
Libertarian economics, with its emphasis on deregulation, free markets, and minimal government intervention, has certainly driven innovation and growth in certain sectors. However, it has also led to offshoring, a gig economy devoid of worker protections, and a financial sector that prioritizes short-term profits over long-term stability. The result is a hollowing out of the American heartland, where once-thriving communities are now struggling to cope with the impacts of globalization and technological change.
Conservative economics, in contrast, advocates for a more balanced approach that recognizes the importance of both free enterprise and strategic government intervention to protect and nurture the middle class. This model promotes policies that incentivize domestic manufacturing, support small businesses, and ensure that American workers are prioritized in the labor market. By encouraging companies to invest in local communities and providing tax incentives for businesses that keep jobs in the United States, conservative economics seeks to rebuild the American manufacturing base and restore economic dignity to blue-collar workers.
A key tenet of conservative economics is the belief in the importance of the family as the fundamental unit of society. Policies that support working families—such as expanded child tax credits, affordable healthcare, and access to quality education—are essential for creating an environment where the middle class can thrive. By investing in families, we ensure that future generations have the stability and resources they need to succeed, thereby strengthening the social fabric of our nation.
Moreover, conservative economics calls for a reevaluation of our trade policies. Free trade agreements, while beneficial in theory, have often resulted in American jobs being shipped overseas. A more nuanced approach that prioritizes fair trade—ensuring that our trading partners adhere to labor and environmental standards comparable to our own—would help level the playing field for American workers and businesses.
Critically, conservative economics also recognizes the need for responsible fiscal policy. While libertarian economics often pushes for drastic cuts to government spending, conservative economics advocates for targeted investments in infrastructure, education, and research and development. These investments not only create jobs in the short term but also lay the groundwork for long-term economic growth and competitiveness.
In conclusion, it’s time for a shift from libertarian to conservative economics—one that places the needs of middle-class families, blue-collar workers, and American communities at its core. By adopting policies that promote domestic manufacturing, support working families, and ensure fair trade, we can rebuild a robust and resilient middle class. Conservative economics offers a path forward that aligns with traditional American values, fostering a society where hard work is rewarded, families are supported, and communities thrive. As we look to the future, this approach provides a solid foundation for restoring the American Dream.