With the implosion of the American economy fully underway, the news channels and papers are riddled with a brand new type of expert.  The banker/accountant/analyst who has lost his shirt in the collapse of one of the dozens of giant financial instiutions. 
    These analysts are interesting, because they are arguing for more government regulation, more government intervention and more nationalization of troubled companies.  For instance, most of these people are lauding the US governments decision to take over insurance giant AIG. 
    What this means, is that the sub prime mortgage crisis, the credit crunch, the great Wall St. swindle, whatever you want to call it, has ushered in a new business as usual, and it has Milton Friedman rolling over in his grave. 
    The era of laissez-faire deregulated markets are over, where good money can be thrown into bad investments because the market will regulate itself.  Everyone from the CEOs of the big three auto makers to some of the most staunch anti-government Republicans have been forced to bow down to Keynes and his socialist ideals.
   What surprises me the most however, is the complete lack of outrage being demonstrated on the part of the rest of the world.  The areas that have been most affected by these free market ideals, areas such as Chile, Cuba and the South Pacific, have been strangely quiet. 
    As well, where are all those protesters from the Battle in Seattle in 1999? Where is Naomi Klein? This complete about-face on the ideals espoused by the Chicago School of Economics and Mr. Friedman in particular, by the Western capitalist class seems like an opportunity to begin a new dialogue with the developing world.
    This economic collapse will continue to have devastating effects on millions of people throughout the globe, and that cannot be minimized.  But perhaps while we are examining what went wrong with the free market ideal and what its effect is going to be on our wealthy continent, we should also be reflecting on the damage our wealthy continent has inflicted on the developing world with these free market ideals, and looking into the future to see a way for the entire globe to move forward economically.