I think this is a very balanced assessment of the pre- and post-recessionary american economy. It just reminds one of what Keynes, godfather of the IMF, isaid of the market failures and why markets could not be left to themselves and called for global collective action. That is why as far back as in 1933 in his essay The End of Laissez-Faire he declared: “"Many of the greatest economic evils of our time are the fruits of risk, uncertainty, and ignorance. It is because particular individuals, fortunate in situation or in abilities, are able to take advantage of uncertainty and ignorance, and also because for the same reason big business is often a lottery, that great inequalities of wealth come about.'”