Thomas Frank, in my view the smartest cultural commentator with a regular column, leaves the WSJ. He founded the Baffler, a cutting edge leftie magazine, but with great writing.
As the right howled “socialism,” President Obama took pains to demonstrate his loyalty to the exhausted free-market faith. On trade issues and matters of economic staffing, he loudly signalled continuity with the discredited past. On the all-important issue of regulatory misbehavior—a natural for good-government types—he has done virtually nothing.
The real audacity has all been on the other side. Many Republicans chose to respond to the crisis not by renouncing the consensus faith of the last 30 years but by doubling down on it, calling for more deregulation, more war on government.
That they have partially succeeded with such a strategy in these years of financial crisis, mine disasters, and oil spills is testimony to their political brilliance—and to Democratic dysfunction. As is the burgeoning populist movement that now stands beside the GOP, transforming anger over unemployment into anger over the auto bailout and the good pensions enjoyed by public workers.