Over the years, the democratic values have swamped the republican ones. We’re now impatient with any institution that stands in the way of the popular will, regarding it as undemocratic and illegitimate. Politicians see it as their duty to serve voters in the way a business serves its customers. The customer is always right.

A few things have been lost in this transition. Because we take it as a matter of faith that the people are good, we are no longer alert to arrangements that may corrode the character of the nation. For example, many generations had a moral aversion to debt. They believed that to go into debt was to indulge your basest urges and to surrender your future independence. That aversion has clearly been overcome.

We no longer have a leadership class — of the sort that existed as late as the Truman and Eisenhower administrations — that believes that governing means finding an equilibrium between different economic interests and a balance between political factions. Instead, we have the politics of solipsism. The political culture encourages politicians and activists to imagine that the country’s problems would be solved if other people’s interests and values magically disappeared.