Odd news that maybe isn’t so odd: A presidential straw poll conducted by a libertarian student group found that the most popular candidate among its members was Donald Trump. Second place: Bernie Sanders.
Young libertarians for elderly socialists: Not as strange as it sounds, or unprecedented.
Fifty years ago, the libertarian (he’d have said “anarcho-capitalist”) economist and political analyst Murray Rothbard dreamt of a grand coalition between far Left and far Right, whose members and interests, he believed, might be unified momentarily and perhaps more than momentarily by opposition to the Vietnam War. This was an error and led him to some ghastly places (thrilling to the stirrings of David Duke and culpable indulgence of Holocaust deniers) and into associations from which the liberty movement has never recovered.
What might drive a young libertarian into the “revolution” that Sanders proclaims? One thing is the ongoing Rothbardian bent in libertarian foreign-policy thinking, and Sanders is the only candidate in the race who isn’t entirely hostile to non-interventionism on the Ron Paul model. On lifestyle-libertarian issues — marijuana, stance toward religious traditionalists and their institutions — Sanders is the libertarians’ man, in practice. Sanders is energetically anti-libertarian on questions of trade and immigration, but a nontrivial number of self-professed libertarians have abandoned those issues or reversed themselves on them, “libertarian” now being used with unfortunate looseness to mean “right-wing populist who does not wish to be identified with Mitch McConnell’s party.”
We also are seeing the poison dividend of the bank bailouts.
Free-marketeers and free-traders must of course be realists about big business and its interests to the extent that we live in the real world, but for a generation, the working assumption was that the party of capitalism and the party of capitalists were if not the same party then largely on the same side, give or take an ethanol subsidy or in-house fight about intellectual property. The bailouts changed that.
The sort of libertarians who might have followed Rothbard into the sweaty precincts of David Duke’s political thinking have always had some uneasiness about the (Jewish) international bankers who terrified Henry Ford, and you’ll generally find them in possession of a copy of The Creature from Jekyll Island, the ur-text of Federal Reserve conspiracy theory. The spectacle of a small number of financial institutions throwing the world into an economic crisis through their fecklessness and rapacity and then demanding sweetheart loans amounting to trillions of dollars to see them through — a drama in which the banks were both the hostages and the hostage-takers — brought new life to the dry bones of 1930s conspiracy theories.