Why Both Left and Right Have Rejected Free Markets

[applegrove]

Why Both Left and Right Have Rejected Free Markets

July 11, 2026 at 10:21 am EDT By Taegan Goddard 65 Comments

https://politicalwire.com/2026/07/11/why-both-left-and-right-have-rejected-free-markets/

“American political leaders on the left and right are rebelling against the market-first consensus that dominated Washington for four decades,” Axios reports.

“The result is one of the biggest shifts in U.S. economic policy since the Reagan revolution, overturning decades of orthodoxy on trade, manufacturing, housing, health care and corporate power.”

”The shared skepticism of the old economic consensus masks vastly different visions for what comes next.”

”It’s evident in everything from the Trump administration taking government stakes in dozens of private companies to socialist candidates winning Democratic primaries promising a more active government role in the economy.”

[NeoTrajan]

1. Democrats have been for REGULATED Capitalist markets since the start of the 20th century

So, a regulated capitalist market is not technically a 'free market', yet, it's been a cornerstone of Democratic economic philosophy for nearly a century

Laissez Faire 'free markets' have led to some spectacular panics and depressions over the centuries, and wise human beings thought it better to introduce SOME controls to protect American citizens from naked market manipulations and outright crimes

So, to just use the term 'free markets' provides none of the nuance needed to fully discuss this issue ... it dumbs down the conversation

That's intentional, just like it's intentional to NEVER fully describe the difference between classic socialism and democratic socialism in detail: It's easier to attack using the evil 'socialism=communism' meme ... And yet, America has been living a Social Democrat existence within a REGULATED capitalist marketplace for a century ... which never stopped the millionaires and billionaires from making a buck

Embrace your own social democracy, Democrats!

[applegrove]

3. I have been saying we're all mixed market economies

for years.

[Cirsium]

2. Of course

When economic crisis hits, it is Mussolini or the New Deal. Not exactly the same thing, Political Wire. The impetus is the same, but the responses are not in the same category, as is being implied by the article. Shame on junky clickbait Political Wire for promoting the both-sides nonsense, and shame on behind a paywall Axios, as well, for writing it. Shame on us for posting it. Let's do better.