Self-reliance. Individual responsibility. A faith in free markets and a belief that people should have the opportunity to fail or succeed on the basis of their hard work and ingenuity. These are qualities that have been as central to the national identity as they have been to the American economic model. Full Story »
Posted by Kaizar Campwala
A well-sourced and eminently well written journal of the policies that got us into the financial mess we face today. I particularly liked the author's reference to Bush's setting aside his beliefs (in an unregulated free market economy) in favor of "economic and political pragmatism" (i.e., the bailouts). The author goes on to speculate that eventual economic recovery will not defray America's suspicion of unregulated markets, and I tend to agree. I simply hope we can recover.
