Noah Smith: “Over the past two decades, Americans collectively convinced themselves that their economy — by many measures one of the top performers in the world, and indeed in all of human history — was fundamentally broken and needed major changes. This line of thinking, popular on both the right and the left, did succeed in identifying some problems with the existing American system. But it massively blew those problems out of proportion, and brought way too much ideology into the debate. Now we’re going to experience the consequences.”