Noah Smith
· Noahpinion
· May 29, 2026 at 09:42
· ⏱ 18 min read
| Read on Substack ↗
Summary
Noah Smith argues that America's current political dysfunction stems from abandonment of 20th-century liberal nationalism—a unifying ideology that blended patriotism, civic values, and pluralism. The article contains no market analysis, trade recommendations, or company-specific observations; it is a purely political and historical essay with no investment implications.
•Smith contrasts technocratic policy analysis (2011) with today's ideological, nativist-driven policymaking under Trump and leftist anti-corporate sentiment.
•Debate between pseudonymous 'Roman Helmet Guy' (right-wing nationalist) and Balaji Srinivasan (libertarian, now in Singapore) illustrates tensions between loyalty to people vs. ideals.
•RHG demands loyalty to the American people, not values; Balaji argues national identity is impossible amid polarization and that he owes no deference on racial grounds.
•Smith criticizes both extremes: Balaji's 'exit' mentality undermines collective action, while RHG's 'blood-and-soil' nationalism cannot define who counts as an American without racial/ethnic tests.
•A YouGov poll cited shows Americans overwhelmingly define national identity by citizenship, belief in Constitution, obeying law, and voting—rejecting ethnic criteria.
•Smith argues homogeneous countries have an easier time providing public goods; diverse America needs unifying ideology to avoid fragmentation.
•Franklin D. Roosevelt's liberal nationalism is held up as the model: it promoted national unity, pluralism, and immigrant identity while opposing restrictive nationalism—exemplified by 1943 film 'Don't Be a Sucker'.
•FDR's administration ended forced Native American assimilation, created Black advisory groups, and funded cultural programs documenting diversity, but also interned Japanese Americans—a contradiction Smith acknowledges.