Let’s look at the current economic disaster and the failure of our leaders to do very much to prevent the relatively imminent next disaster, Too Big to Save.
My perspective is that of the substance abuser.
In the 1920s, the investment class, so to speak, was like a bunch of addicts: greed and wealth over all. Which, like all addictions, resulted in disaster.
Enter FDR, who initially acted like an intervenor, essentially saving capitalists from themselves by policing them and preventing from destroying everything and within those limits, otherwise allowing them to do pretty much whatever they want.
The binge began all over again with Reagan and his followers egging on the investor class, effectively shutting down the police.
Obama, elected in part as a reaction to the 2008 disaster has simply failed to intervene, preferring to be the addicts’ puppet.
And here we are.
Of course it’s not quite that simple.
But it’s plenty close enough.
(Feel free to prove me wrong.)