The Death of Libertarianism?

Over at the Monkey Cage, Steven Kelts looks at the issue:

An economic crash spurred on by a weakness for profit and a blindness to risk; but efforts at reform are resisted in the name of the “free market.” A healthcare system that is more costly and less effective than many others in the developed world; but efforts to change it run aground on the reluctance of some to pay for the benefits of others. Federal coffers drained by unaffordable handouts to the largest corporations, highest income-earners, and wealthiest estate-holders; but efforts to roll back these mistakes are met by an astro-turf tax revolt that smacks more of class warfare than the progressive tax system itself.

We could see these as the same old battles between left and right, the same tired pantomime that ends in stalemate. But it seems to many that something is different this time around, that change in our political system is inevitable. New regulations will be issued for Wall Street and corporations. A new national plan for healthcare will emerge. And changes in our tax laws will have to occur to reverse the deficit and arrest the debt. No doubt each of these will be resisted by those who still cling to a retrograde American “libertarianism.” But it may finally be the case that their outsized and undeserved influence on the politics of the past 30 years is ending. It is time for us to reflect on this free market ideology, and ask whether American libertarianism is (or ought to be) dead.

Parts 2, 3 and 4.