Discouraging news from Washington today. It seems like the enemies of the benign free marketplace are set to triumph over the protectors of the right of every American to get hosed by an unregulated banking industry.
The odds are that this spill won't actually be that big of a historical moment. I'm not a cynic, but there's something extraordinarily resilient about Americans' collective indifference to holding people and organizations accountable.
With high production comes high risk. High risk ventures such as gulf drilling in the U.S. are licensed by the government. It's time the government sets some minimum requirements to avoid catastrophes.
In the United States, where bankers continue to rule the Obama administration's economic team, the idea of government teaming up with business to drive long-term innovation and growth is still struggling to gain attention.
I'm so convinced that the private market will make everything better that I think we should do it across the board. Let's start with firecare. Why should I pay for firecare services for people who are dumb enough to start fires?
While the phrase "The End of the Free Market" may capture public anxiety in America today, Bremmer should have called his book "The End of State Capitalism"—he bets that free markets will win the "war" with statists.