The Regulatory State
By Arnold Kling
Alfred Kahn, the saving grace of the Carter Presidency, writes,
The assumption of Democratic control of Congress last year and the probability that its majority will be increased by this year’s elections portends a growing, deeply troubling ideological split within its ranks, already visible, on matters of economic policy generally and regulatory policy specifically – between the more radical (and at the same time reactionary) populists, who label themselves Progressives, and the 20th century liberals, who have dominated in the formulation of their party’s economic programs for the last three-quarters century.
I have been thinking the same thing. In fact, I just wrote an essay on what I see as the outlook for economic policy in the next Administration, and it’s not pretty.