The Meaning of the Election

Virginia Postrel has it exactly right:

[A] Bush victory will be interpreted as public approval (a majority's, at least) of his executive style and personality, of the war in Iraq, and of his economic policies, particularly the tax cuts. A Kerry victory will be interpreted as public rejection of Bush's temperament, of the war in Iraq, and of his tax cuts and of his pro-business (and in some cases pro-market) policies.

I wish I'd said it.