From the page: " Besides adopting a free trade model, America has turned away from the other tenants of the American School of Economics. Specifically, it has neglected public infrastructure projects in the hope that privatization of public assets would do a more capable and efficient job. This strategy has also failed miserably.
The third leg of the American School of Economics was to create a financial infrastructure that would "use of sovereign powers for the regulation of credit to encourage the development of the economy, and to deter speculation."
In a trifecta, our rejection of this principle has been an utter failure.
Even after the credit cycle finally runs its course, the country has to overcome its more intractable systemic problems. Fortunately, we have a working model with 112 years of success to operate from.
The primary obstacles between our present situation and a return to wealth-producing prosperity is our politicians and the wealthy class who own them."