From the article, Kristol goes on to say:
"You can make a case that America has been great because every—I think John Adams said this—basically if you’re a free society, a capitalist society, after two or three generations of hard work everyone becomes kind of decadent, lazy, spoiled—whatever. Then, luckily, you have these waves of people coming in from Italy, Ireland, Russia, and now Mexico, who really want to work hard and really want to succeed and really want their kids to live better lives than them and aren’t sort of clipping coupons or hoping that they can hang on and meanwhile grew up as spoiled kids and so forth. In that respect, I don’t know how this moment is that different from the early 20th century."
Well Bill, here's the thing about those "two or three generations of hard work" -- those people were doing hard work not just for themselves, but for their posterity. For their children, their children's children, their children's children's children, and so on. They weren't toiling away in obeisance to some notion of free market theory, they were doing it to improve their own lives and even more so to give their own flesh and blood something better than they themselves had.
If people had no reason to believe they were working to build something for their own families, then a lot of the motivation to do that hard work flies out the window. So he lauds the hardworking immigrant. Well try telling those hardworking immigrants "thanks for all you are doing, but I hope you know in a generation or two we're going to undermine your grandchildren in their own attempts to raise a prosperous family." People work and sacrifice to build societies for themselves and their families, not for some hypothetical future migrants from who-knows-where. That is what is either disingenuous or short sighted in these "Commerce Über Alles" types -- the very things they praise "hardworking immigrants" for would disappear if people had no expectation that their labors are for some meaningful purpose. And that is exactly the position working class whites ended up in: demoralized and undermined, with no expectation that sacrifice and effort would go toward the benefit of their own families and countrymen. And these Bill Kristol types have the gall to ridicule them and openly hope for their replacement by some more worthy group (i.e. the latest flavor of the month of indentured servants).
It's not just the Left. There's a whole lot of people on the nominal Right who also have a huge blind spot when it comes to the dissatisfaction fueling the Trump phenomenon.