Free market societies need separation between market and government, intermediated by constitutional democracy. In the 20th century many countries suffered from excessive government control over market activities, and they paid a heavy price. In the 21st century America risks paying a heavy price from the reverse problem of allowing excessive corporate influence over government.
This is a huge danger, yet it is off the political radar. One reason is that business funds both Republicans and Democrats, thereby silencing both. A second reason is that much of the public believes businessmen are smart and can run government well - after all they are rich. Put the two together, and it is easy to see why business executives move seamlessly from Wall Street and corporate boardrooms to top government policy offices on Pennsylvania and Constitution Avenues.
We're coming around to the idea that what's good for corporate America is not always what's good for America when it comes to environmental policy, I wonder how long it will take this awareness to extend to trade policy?
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