It's been a rotten few months for the nation's wealthiest 1 percent. From the senatorial candidacy of Elizabeth Warren to Occupy Wall Street, economic elites have faced a concerted attack on their riches and power, their arrogant and unaccountable ways.
After decades of "compassionate conservatism," "a thousand points of light," and "Morning in America," dark talk of class warfare on the right can seem like a strange throwback. So accustomed are we to the sunny Reagan and the populist Tea Party that we've forgotten a basic truth about conservatism: It is a reaction to democratic movements from below, movements like Occupy Wall Street that threaten to reorder society from the bottom up, redistributing power and resources from those who have much to those who have not so much. With the roar against the ruling classes growing ever louder, the right seems to be reverting to type. It thus behooves us to take a second look at the conservative tradition, not just its current incarnation but also across time, for that tradition provides us with an understanding of why the conservative responds to Occupy Wall Street as he does.