The Libertarian Surge

Libertarianism — the political philosophy that says limited government is the best kind of government — is having its moment. Unfortunately, that’s mostly because government has been expanding in the aftermath of the Sept. 11 attacks and the financial crisis. Somehow government failures lead to even more government.

When the financial crisis hit in the fall of 2008, the politicians in Washington had one response: start printing money and bailing out big businesses. First it was Bear Stearns, then Fannie Mae and Freddie Mac, then most of Wall Street. But voters had a different response. Polls showed widespread opposition to the bailouts. When Congress prepared to vote on President George W. Bush’s $700 billion Troubled Asset Relief Program, Americans made their opinions known in no uncertain terms. Ohio Sen. Sherrod Brown reported, “Like my colleagues, my phones have been ringing off the hook. The sentiment from Ohioans about this proposal is universally negative.”

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