Warnings of a crisis of liberalism have become commonplace, as it is assailed by an illiberal right on the one side and a socialist left on the other. The situation is plain, and it is at least partially self-inflicted. Liberalism has missed opportunity after opportunity. It is not merely the tepid response to the financial crisis. One critic warns that already in the ’80s there were “fresh and full disclosures of poverty” and “the decay of rural industry and population,” yet liberals made no serious proposals for reform.

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