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April 25, 2013

Instead of moderation, what’s at hand is a Great Deformation,

The way out would be so radical it can’t happen. It would necessitate a sweeping divorce of the state and the market economy.

It would require a renunciation of crony capitalism and its first cousin: Keynesian economics in all its forms. The state would need to get out of the business of imperial hubris, economic uplift and social insurance and shift its focus to managing and financing an effective, affordable, means-tested safety net. All this would require drastic deflation of the realm of politics and the abolition of incumbency itself, because the machinery of the state and the machinery of re-election have become conterminous. Sundown in America - NYTimes.com

Posted by gerardvanderleun at April 25, 2013 10:27 AM. This is an entry on the sideblog of American Digest: Check it out.

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