George H. Nash, “Populism, I: American conservatism and the problem of populism”:

In the late 1950s and early 1960s the three independent wings of the conservative revolt against the Left began to coalesce around National Review, founded by William F. Buckley Jr. in 1955. Apart from his extraordinary talents as a writer, debater, and public intellectual, Buckley personified each impulse in the developing coalition. He was at once a traditional Christian, a defender of the free market, and a staunch anticommunist (a source of his ecumenical appeal to conservatives).

As this consolidation began to occur, a serious challenge arose to the fragile conservative identity: a growing and permanent tension between the libertarians and the traditionalists. To the libertarians the highest good in society was individual liberty, the emancipation of the autonomous self from external (especially governmental) restraint. To the traditionalists (who tended to be more religiously oriented than most libertarians) the highest social good was not unqualified freedom but ordered freedom grounded in community and resting on the cultivation of virtue in the individual soul. Such cultivation, argued the traditionalists, did not arise spontaneously. It needed the reinforcement of mediating institutions (such as schools, churches, and synagogues) and at times of the government itself. To put it another way, libertarians tended to believe in the beneficence of an uncoerced social order, both in markets and morals. The traditionalists often agreed, more or less, about the market order (as opposed to statism), but they were far less sanguine about an unregulated moral order.

Not surprisingly, this conflict of visions generated a tremendous controversy on the American Right in the early 1960s, as conservative intellectuals attempted to sort out their first principles. The argument became known as the freedom-versus-virtue debate. It fell to a former Communist and chief ideologist at National Review, a man named Frank Meyer, to formulate a middle way that became known as fusionism—that is, a fusing or merging of the competing paradigms of the libertarians and the traditionalists. In brief, Meyer argued that the overriding purpose of government was to protect and promote individual liberty, but that the supreme purpose of the free individual should be to pursue a life of virtue, unfettered by and unaided by the State.

As a purely theoretical construct, Meyer’s fusionism did not convince all his critics, then or later. But as a formula for political action and as an insight into the actual character of American conservatism, his project was a considerable success. He taught libertarian and traditionalist purists that they needed one another and that American conservatism must not become doctrinaire. To be relevant and influential, it must stand neither for dogmatic antistatism at one extreme nor for moral authoritarianism at the other, but for a society in which people are simultaneously free to choose and desirous of choosing the path of virtue.

(…).

What do conservatives want? To put it in elementary terms, I believe they want what nearly all conservatives since 1945 have wanted: they want to be free; they want to live virtuous and meaningful lives; and they want to be secure from threats both beyond and within our borders. They want to live in a society whose government respects and encourages these aspirations while otherwise leaving people alone. Freedom, virtue, and safety: goals reflected in the libertarian, traditionalist, and national security dimensions of the conservative movement as it has developed over the past seventy years. In other words, there is at least a little fusionism in nearly all of us. It is something to build on. But it will take time.