Thank you, it was a failure on both parties, and I’m glad that you mentioned it.
I know I gloss over the Dims involvement in this only because nobody on our side seems willing to accept blame.
Prudent statesmanship in crafting political structuring of government policies is perhaps too much a question of blame. This blame-game has been crafted by the media as it suits their market model and leanings.
No less a light than Hernando DeSoto (the Peruvian Economist, not the explorer) has spent a decade demonstrating how a free market alone does not make for prosperity -- first we must have the rule of law and definte property rights that must allow property to be securely, swiftly and accurately traded and capitalized. Hayek knew this but lesser lights have forgotten even amongst the Austrian crowd.