Capital Record Episode 253: What’s New Is Old: Unpacking New Right Populist Economic Arguments
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Aug 28, 2025 Richard Reinsch, a commentator on conservatism and author of 'Reading the New Conservatives,' joins to discuss the resurgence of right-wing populism. The conversation reveals that today's economic arguments aren't as new as they seem. They explore the clash between consumer-focused policies and worker needs, the risks of increased government intervention in business, and the complexities of trade, especially with China. Reinsch critiques corporate advocacy within politics, pushing for a redefined consumer welfare standard to foster a more inclusive economy.
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Consumer Versus Worker Framing
- Richard Reinsch argues the core debate is whether economic policy prioritizes the consumer or the worker.
- He contends consumer-focused markets best serve workers by revealing prices, comparative advantage, and investment signals.
The Hidden Costs Of Industrial Policy
- Reinsch warns that shifting focus to workers invites centralized industrial policy and administrative control.
- He argues such interventions assume the state knows better than private investors and carry large hidden costs.
Right Adopts Left Economic Tools
- Reinsch and David note a rightward turn embracing tools historically left-wing, like tariffs and equity stakes.
- They highlight this represents a rejection of price discovery and Hayekian limits on central planning.
