The former South Carolina governor and U.N. ambassador argues that Republicans should set themselves up as pure, unadulterated capitalists with no tolerance for government intervention in markets or for business executives who talk about goals besides shareholder value.

In my new column, I point out that no Republican has ever taken that stance: not Haley herself when she was in office, and not the president she lauds today. What she is advocating is extremism in defense of liberty, which is indeed a vice.