The basic premise is that the population is divided into three groups. By far the largest group consists of ordinary people. They are good, God fearing and hard working. But they are also often ignorant of their true self-interest ("What's the matter with Kansas?") and thus easily misled. They are also politically weak and thus need to be protected from the second group, which is politically strong. [He later calls these the sheep.]
The second group, far smaller, are the affluent, successful businessmen, corporate executives and financiers. Capitalists in other words. They are the establishment and it is the establishment that, by definition, runs the country. They are, in the liberal paradigm, smart, ruthless and totally self-interested. They care only about personal gain.[He later calls these the wolves.]
And then there is the third group, those few, those happy few, that band of brothers, the educated and enlightened liberals, who understand what is really going on and want to help the members of the first group to live a better and more satisfying life. Unlike the establishment, which supposedly cares only for itself, liberals supposedly care for society as a whole and have no personal self-interest. [He later calls these the shepherds.]
Not only does the liberal paradigm not even come close to agreeing with the social and economic reality on the ground today, worse, it has largely congealed into a political religion, especially in the nearly 30 years since Ronald Reagan shifted the nation's political center of gravity, just as FDR had done 48 years earlier. Since liberals care about the sheep, all who disagree with liberalism must not, making them morally inferior if not downright immoral. Thus the nastiness in American politics is largely on the left. Whatever you think of Sarah Palin, her treatment in the liberal press was ugliness personified.
But in a world where a majority of Americans work at white-collar jobs, have high-school and college degrees, own their own homes, and hold financial securities in their own right, the so-called wolves are now a majority. If liberals don't begin to take that fact into account in formulating policy, the Obama administration will not only be an unsuccessful liberal administration, it may well be the last liberal administration.