Here is where the factions stand on the regulation of markets:
- CLs: Markets lead to an efficient use of resources and thus create prosperity. Even more importantly, they represent freedom from a government that is always itching to overreach. Regulations should be kept to an absolute minimum.
- CDs: While markets create wealth, they do not always distribute it in a manner which is consistent with the overall public interest. Regulation and taxes are required at times to protect workers, families, and retirees from capitalists.
- PBPs: We’re more pro-business than pro-market. We hate excessive and arbitrary taxes and regulations, but we have no problems with subsidies, and don’t even think about going after our rents.
- Reactionaries: Markets are fine, as long as they further the interests of white Christian workers. When they stray from that fundamental purpose, government action is required.
Historically, the PBP position has prevailed within the GOP. Whether that will continue in a party that is now dominated by the Reactionaries is a big question for the future.