When most people think about the 1970s, they’re likely to conjure up images of Watergate, oil shortages, disco, and outrageous hairstyles. When academic political historians have thought about the 1970s, they have tended to see the era largely as one in which the forces of conservatism gained strength, setting the stage for Ronald Reagan’s election as president in 1980 and the subsequent decades of “neoliberalism,” in which both parties tended to agree that market forces needed to be liberated from the heavy hand of government. 

But a new generation of historians argues that this reading shortchanges many of the Democratic politicians active in the 1970s and the years that followed, particularly the New Liberals. These were the people who wanted the Democratic Party to regain its political momentum by reforming liberalism as well as the party. The New Liberals included intellectuals like Robert Reich and Ira Magaziner, business figures like Felix Rohatyn and Robert Rubin, and politicians including Gary Hart, Paul Tsongas, Jerry Brown, and of course Bill Clinton, who arguably brought the New Liberal project to fruition by winning the presidency in 1992. 

Henry Tonks, a historian at Kenyon College, has written a dissertation reevaluating the New Liberals. He argues that while they did pave the way toward the modern Democratic Party, they didn’t capitulate to Reaganism or repudiate their New Deal heritage. Rather, they tried to reinvent liberalism by adapting it to an economy that was becoming more globalized as well as less industrial and more reliant upon financial services and advanced technology. They embraced industrial policy and worried about whether America was falling behind its commercial rivals, particularly Japan. Tonks argues that while New Liberals didn’t correctly diagnose the changes to the economy in all of its particulars, their policy vision retains considerable relevance to today’s politics — and particularly the discussion around the Abundance movement.