Is it time to recreate a progressive conservative tradition?

Yes it is time to bring it in to the 21st century. There needs to be regulation to control the greed. Look at the result of allowing greed to flourish. It's all around, in every country, and it happens every so often with the boom and bust cycle. The longer it is ignored and allowed to continue, the longer the troubles in every aspect of society will continue. When you allow total freedom, the "strong" will always enslave the "weak", and the terms "strong" and "weak" may be used to simply differentiate people of different social classes.