For those who missed it, here's Thomas Frank's pointed analysis of Phil Gramm's Marie Antoinette moment. "This, historians will someday say, was the snarling end of an era in which our leaders believed that markets represented the very will of the people; that to serve one was to serve the other." Snarling, yes. But the end? Frank may be too optimistic. As he notes later in this column, one of the leading champions of"market populism"has been Kevin Hassett, coauthor of Dow 36,000, and now one of Senator McCain's chief economic advisors.

Matthew Boudway is senior editor of Commonweal.

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