Mercantilism Reconsidered

This question constitutes a Rorschach test for policymakers and economists. On one side are free-market enthusiasts and neo-classical economists, who believe in a stark separation between state and business. In their view, the government's role is to establish clear rules and regulations and then let businesses sink or swim on their own.

Public officials should hold private interests at arm's length and never cozy up to them. It is consumers, not producers, who are king.