I still think the “investor class” is a strong potential constituency for limited government, but Jesse Walker highlights a commenter making the case for the opposite point of view:
The ownership society is sold as a way to get people to embrace the market and oppose government control of the market. I think the opposite is going to prove true. As more and more people are dependent on the market doing well, the political pressure to ensure that no one loses in the market will be greater and greater.
Voters invested in the stock market will be likely to rebel against damaging tax, spending, and regulatory policies if they understand how they will impact the bottom line. But this counterargument can’t be easily discounted in light of the AIG bailout. Too big to fail is just the right size to bail.
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