From the New Prologue The United States over the last decade has witnessed a classic confrontation between the forces of entrepreneurial capitalism and those of established institutions claiming a higher virtue, expertise, and political standing. One side subsists on unforced profits of enterprise; the other on rents and tolls and privileges at the Treasury, the Federal Reserve, and the White House. &hellp;The wealth of America is not an inventory of goods; it is an organic living entity, a fragile pulsing fabric of ideas, expectations, loyalties, moral commitments, and visions.
To vivisect it for redistribution is to kill it. As President Mitterands French technocrats discovered in the 1980s, and President Obamas quixotic American ecocrats are discovering today, government managers of complex systems of wealth soon find they are administering an industrial corpse, a socialized Solyndra.