Please read first Mr. Binswanger’s article by clicking on the picture and only then proceed to my humble comments.
Even though I’ve been disappointed by Obama I don’t think yours is the right way out the current mess.
While you are right when claiming that the regulatory/welfare state is part of the problem I strongly oppose your solution: wholesale dismantlement.
The point of contention between us is the Sherman Antitrust Act of 1890.
You are right when you say that ultimately the free market will take care of everything – eventually even the ‘too big to fail’ will ‘eat the dust’, no matter what – my only problem is why allow them to grow so big as to put all of us in jeopardy when they fail/fall?
So how about putting the Sherman Antitrust Law to its intended use, to protect the freedom of the market from any entity, public or private, gaining any degree of control over the economic agents? (Here is a lot to be discussed, what I mean is that the state should only be able to restrict economic agents from acts that would harm the others – including from getting control over a market – and not to tell any of them what to do)
How about putting the entire state back to its intended use, a regulatory tool for making sure that the table stays level?
Right now it is anything but that but, I repeat, dismantling it altogether would not bring in freedom. It will bring very shortly a long period of dictatorship punctured by brief but very intense episodes of anarchy. Some like to call them revolutions …
In fact there is no difference between a state run monopoly and a private one, both fail eventually. And this is what Sherman had in mind, back in 1890.