When the financial meltdown occurred, it seemed almost certain that Americans would judge that the conservative economic experiment of 1981-2008 had failed. Instead, they seem to be leaning in the opposite direction—toward a conclusion that it was the liberal economic experiment of 2009-10 that has failed.
Really? Maybe on macroeconomic grounds, but on the question of economic central planning they’re way out front. First of all, have any regulatory agencies been eliminated lately? How are they going to be eliminated? How about those farm subsidies? Next, how about Medicare, Medicaid, Social Security? From USA Today via CFG, one in six Americans are dependent on government handouts. Or, the whole notion that politicians can flip a few policy levers to make us run faster for the collective economic good?