"In the Early '70s, No One Could Have Predicted That a Combination of Social Upheaval, Economic Crisis, and Political Talent Was About to Usher in a Brand-New Economic Era"

"Three main theories have emerged, each with its own account of how we got here and what it might take to change course. One theory holds that the story is fundamentally about the white backlash to civil-rights legislation. Another pins more blame on the Democratic Party's cultural elitism. And the third focuses on the role of global crises beyond any political party's control. Each theory is incomplete on its own. Taken together, they go a long way toward making sense of the political and economic uncertainty we're living through."

Rogé Karma at The Atlantic asks, "Why did America abandon the New Deal so decisively? And why did so many voters and politicians embrace the free-market consensus that replaced it?"