Conservative Economic Thought Is Having an Identity Crisis

March 9, 2026

TL;DR

The conservative movement is divided over its economic future, with a conflict between traditional free-market principles and emerging economic populism.
Oren Cass advocates for a "productive pluralist" approach, prioritizing community health and broader measures of flourishing beyond GDP growth.
Critics like Norbert Michel and Alex Tabarrok argue that free markets have benefited Americans and that populist claims about economic decline are often overstated or misattributed.
The intellectual debate, particularly regarding industrial policy, tariffs, and the role of government, has intensified since Trump's rise in 2016.
Alternative free-market perspectives, such as the Austrian school, are being considered for their potential to resonate more effectively in the current political climate.
The future direction of conservative economic thought remains uncertain, with challenges in translating complex economic data into compelling political narratives.
Donald Trump's unique appeal and charisma are seen as key factors in the rise of populism, raising questions about its sustainability after his influence wanes.

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