This is the script form of the debate between David Frum and Steve Bannon on the rise of populism and whether the future will preserve the liberal order or herald economic nationalism. In effect, this debate is between the two versions of American conservatism-- the old guard that believes in free markets and limited government but also in free trade and the liberal international constellation of nations, and the Trumpian model that seeks nationalist protectionism.
Steve Bannon seeks to portray his position in sympathetic terms-- his premises sound very Bernie Sanderesque as he says he sides with 'the little man' (his own words) that have suffered while the elites have enriched themselves In particular, he cites the permanent, 'uni-party', political apparatchik in Washington that have triggered and supported the trillion-dollar bailout of the financial class. He says his main goal is to bring back manufacturing jobs and high-value-added jobs back for 'the little man' in the United States.
However, he departs from Sanders in two ways that I feel uncover his hypocrisy. First, he sidesteps the issue where the Trump administration he installed actually helps the financial and political elite, in that Trump gave the elites a trillion-dollar tax cut and propagated the policies of political elites. Second, as David Frum points out, populism appears benevolent in theory-- who can be against politics 'of, for, and by, the people'-- but is harmful in practice-- because it translates to a division between the rightful people and the scapegoats, who often enough are already isolated and demeaned in the social order for being poor or brown. Bannon seeks to detach the tag of 'fascism' from his movement, but could not deny the real aftereffects of Trumpian politics in society