"The Conventional Wisdom among well-educated liberals in 1968 included the
- Anti-Communism was a greater menace than Communism.
- The planet could not possibly support the population increases that would take
place by the end of the twentieth century.
- Conservatives stood in the way of progress for minorities.
- Government programs were the best way to lift people out of poverty.
- What underdeveloped countries needed were large capital investments, financed by foreign aid from the rich countries.
- Inflation was a cost-push phenomenon, requiring government intervention in
wage and price setting.
The degree of confidence in these beliefs was so strong that liberals in 1968 came to the overriding conclusion that: Anyone who is not a liberal must be incorrigibly stupid."