The economy in Britain and much of the world is in dire straits and it would not be an exaggeration to say we have entered a period of history that far from being a 'crisis of capitalism', historians looking back may well call it the 'crisis of regulatory statism'.
The history of government at this point seems to be little more than a ramping up of governance at the expense of the citizenry. Liberals offer staggering increases in government while pretending to be generous with rights that in reality have little economic impact on anything, while conservatives offer only a slowing of government growth and increasing government power in other more subtle ways. Who offers a return to true liberty of the individual and limited government?
It is not hard to look at the various nations around the world and see that economic vitality follows those nations that adhere to limited government and individual liberty. Even China's stellar growth has come with its moves toward liberty and away from total control.
Nations that were once popping with innovation throughout Europe are now stuck in a bureaucratic nightmare of government overreach and near paralysis through regulation as their citizens continue to loose their liberty and ability to cope with the changing world. As a result the whole of the area has been experiencing an economic spin-down for decades. As for the US, America is following the lead of Europe with Utopianist leaders such as GK Butterfield.
I can only hope that our form of government which has proven resilient while at the same time quite nimble compared to others throughout the world will pivot and put GK Butterfield on the wrong side of history.