American Political Economy
- If you believe market failures happen on at least a semi-regular basis, you are probably a liberal.
- If you believe market failures happen, but are extremely rare and isolated, you are probably a conservative.
- If you believe 'market failure' is a an oxymoron, you are probably libertarian.
- If you think markets are always failures, you are probably a communist.
How that all fits into the political machinations of late is hard to figure. and is it just me, but was that the most pessimistic presidential address since Jimmy Carter's energy address in 1977.