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When Will the Present Change the Mistakes of the Past? May 16, 2010

Posted by tkcollier in Economy & Business, philosophy & politics.
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The author outlines the post-depression social contract and the gradual breakdown of that model. In the private sector, an example would be the breakup of the AT&T phone monopoly, which opened up the Market to the introduction of cell phones and the internet. But not every industry rose to the International challenges of Globalization and hence the Detroit automotive debacle, brought-on by the recent near-depression. The author wonders what Crash will it take to get Governments to change from their WWII model. The recent close-call (assuming that the Sovereign Debt Crisis doesn’t unravel) has shocked many of the welfare-state proponents to face the unsustainability of their historical model.

American Challenges: The Blue Model Breaks Down – Walter Russell Mead’s Blog – The American Interest.

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