But, yes, this was socialism — or, perhaps, “state capitalism” — because the government temporarily took substantial ownership in the companies when no one in the private sector was willing to put up enough capital to prevent them from going under. Today, the companies are thriving.

More than that: The auto industry exemplifies how unions can do their best to protect the interests of their members while also ensuring the prosperity of the companies that employ them…

Once human beings throw off the chains imposed by the idea that all economic laws are “natural,” they discover the capacity to change things and can use the tools of democratic government to do so when all else fails.

We did not have to accept the collapse of our domestic auto companies, and we do not have to accept that the Federal Reserve is powerless to give the economy the boost it needs.