“ The ideological roots of the conservative era lay in a reaction to the excesses of the Keynesian consensus. Now that the intellectual cycle has swung so decisively against the rightwing ideas of the Reagan-Thatcher era, it is bound to overshoot in the other direction. The joys of government regulation will quickly pall. In a few years’ time, nostalgia will set in for the go-go years on Wall Street and for the bracing moral certainties of neoconservatism.
