“The reason that we have so many well-funded libertarians in America these days is not because libertarianism suddenly acquired an enormous grass-roots following, but because it appeals to those who are able to fund ideas. … Libertarianism is a politics born to be subsidized.”

Casting back to the early days of the conservative revolution, Frank describes the rise of a ruling coalition dedicated to dismantling government. But rather than cutting down the big government they claim to hate, conservatives have simply sold it off, deregulating some industries, defunding others, but always turning public policy into a private-sector bidding war. Washington itself has been remade into a golden landscape of super-wealthy suburbs and gleaming lobbyist headquarters—the wages of government-by-entrepreneurship practiced so outrageously by figures such as Jack Abramoff.

It is no coincidence, Frank argues, that the same politicians who guffaw at the idea of effective government have installed a regime in which incompetence is the rule. Nor will the country easily shake off the consequences of deliberate misgovernment through the usual election remedies. Obsessed with achieving a lasting victory, conservatives have taken pains to enshrine the free market as the permanent creed of state.