Is the US ready for the Market-State?

Philip Bobbit's book on the emergence of the market-state is still a singular touchstone for anyone who wants insight into the future of American democracy. The market-state is focused more on maximal opportunity rather than minimum benefits (the welfare state). While this sounds like a Republican's dream, it isn't. Maximal opportunity requires:

• A level playing field (similar opportunities for all, systemic changes that keep things level for everyone, regardless of their starting point).
• Choice (few limitations on personal freedom).
• Risk mitigation (balanced budgets and an avoidance of foreign wars).
• Quality of life (a clean environment is one major factor).
• Emphasis on those things that allow American's to compete globally (big spending on Education, R&D, and infrastructure).
• Realistic defense (those things needed to really defend us rather than maximal defense).

The list goes on. If the US adopts a market-state approach quickly, our wealth and status will keep pace and likely exceed that of the rest of the world. If not, we can expect a rapid decline (for example, China tripled its number of college grads in the last three years to three times the US total). A test of our ability to embrace this future may come sooner than later. Eliot Spitzer, perhaps the first market-state politician, is on the campaign trail to become the Governor of New York. The Presidency is next. If he can't win (and here's an article in the NYTimes handicapping that), expect the equivalent of ground hog day: more winter.

Comments

[b]

A market state (max. opportunity) does require a welfare state (min. benefit) as this is the only way to get to a level playing field.

To set one against the other is just the wrong start.

[John Robb]

I probably got this all wrong, but it was fun writing it anyway. Hopefully, it will serve as a means to get people thinking about it.

[Steve Kimbrough]

In fact, one of the strongest arguments for the welfare state is that (properly managed) it is necessary for the market state. Somehow the link in the popular mind/press between well functioning markets and laissez faire has to be broken. To the contrary, promoting an unlevel playing field is detrimental to well-functioning markets. Perhaps "market state" is a concept that will help overcome a myth.

[John Robb]

One thing I forgot to add as a indication of the market-state: extreme transparancy.