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.
While important I refuse to call this meeting a "summit," since Democratic and Republican politicians squabbling simply does not reach the heights of two nuclear powers tensely sitting down to talk about missiles.
Rather than defending the outsized paychecks of Dimon, Blankfein, and the rest of Wall Street as part of the free market system, the President needs to demand that Wall Street help homeowners on Main Street.
"Invisible Hands" is about how they were able to grow their ranks over time, so that today business interests are able to exercise immense power regardless of which political party is in the White House.
Given what has happened to our economy in the last decade, it's hard to believe that any of the "freshwater," "efficient market" economists still have jobs, much less, credibility in how the economy actually works.