Shifting America's animating idea from creation to protection.
The real "change" being put to a vote for the American people in 2008 is not simply a break from the economic policies of "the past eight years" but with the American economic philosophy of the past 200 years. This election is about a long-term change in America's idea of itself. ...the U.S. is at a philosophical tipping point.
In the aftermath of the financial crisis, prominent Democrats, European leaders in France and Germany and more U.S. newspaper articles than one can count have said that the crisis proves the need to permanently tame the American "free-market" model... The question is: Are the American people of a mind to throw in the towel on the system that got them here?
[The Obama proposals] would transform the animating American idea -- away from creation and toward protection.
Many voters -- progressive Democrats, the asset-safe rich, academics and college students -- regard this as where America should go. They explicitly want America's great natural energies transferred away from unwieldy economic competition and toward social construction.
An archive of my past WSJ.com articles can be found here: http://wsj-articles.blogspot.com/
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