The Macondo oil well blowout in the Gulf of Mexico is about to spur a bureaucratic overreaction that will ruin America's chance at becoming an energy exporter.
America still retains its innovative edge over China and India. But as long as Washington continues to handpick winners and losers, our preeminence is in jeopardy.
As the Great Recession gnaws at our very belief in the ability of capitalism to raise us to ever-escalating levels of wealth and prosperity, Keynes's no-longer-viable financial prescriptions are being resurrected.
