And when the two-party system is functioning at its best, party leaders can integrate compelling third-party ideas, or even reorient a party entirely to react to a public discontented with its options.
But it has been more than four decades since the last such reorientation, and two decades since the last time a third-party candidate saw his ideas even co-opted by the major parties. Across the latter twenty years, the country has endured a series of disasters that had bipartisan fingerprints all over them. Yet the various movements that have arisen in reaction to those failures — the antiwar left, the Tea Party right, Occupy Wall Street – have yet to even unseat an incumbent president, let alone change the basic lines along which the two parties debate.
Which is where Trump comes in. So far he’s running against the Republican establishment in a more profound way than the Tea Party, challenging not just deviations from official conservative principle but the entire post-Reagan conservative matrix. He can wax right wing on immigration one moment and promise to tax hedge fund managers the next. He’ll attack political correctness and then pledge to protect entitlements. He can sound like Pat Buchanan on trade and Bernie Sanders on health care. He regularly attacks the entire Iraq misadventure, in its Bush-era and Obama-era manifestations alike, in a way that neither mainstream Republicans nor Hillary Clinton can plausibly manage.
And he’s coming at all these issues, crucially, from a vantage point of privilege — which his critics keep highlighting as though it discredits him, when in reality it lends his populism a deeper credibility. He’s the Acela Corridor billionaire (albeit tackier than most) who promises to reveal what the elites are really up to, the crony capitalist who can tell you just how corrupt D.C. really is, the financier who’ll tell you that high finance can afford higher taxes. It’s precisely because he isn’t a blue collar outsider that he may seem like a credible change agent: Because he knows Wall Street, and because he doesn’t need its money to campaign, it seems like he could actually fight his fellow elites and win.
He won’t, of course, but it matters a great deal how he loses. In a healthy two-party system, the G.O.P. would treat Trump’s strange success as evidence that the party’s basic orientation may need to change substantially, so that it looks less like a tool of moneyed interests and more like a vehicle for middle American discontent.
In an unhealthy system, the kind I suspect we inhabit, the Republicans will find a way to crush Trump without adapting to his message. In which case the pressure the Donald has tapped will continue to build — and when it bursts, the G.O.P. as we know it may go with it.