The title of David Wessel's WSJ article title and his comments are bold: "The US Business Model is Broken." The short term fix might indeed lie with the temporarily increased government oversight of "bloated industries" like finance and health care. This however, is not the longer term solution because the deeper issue is not the broken business model. The deeper issue and root cause of our malaise is the broken US educational model that is producing bloated people with bloated egos and senses of entitlement, broken values, a broken work-ethic and an intellectual incompetence with which to think and innovate.
A nation of bloated egos and entitlement has produced a nation of high expectations of government and social handouts, and a society that solves its problems with an expensive and unproductive litigation process rather than through honest human connection and creative solution-finding. Driving the litigation system is an expensive insurance industry that paternalistically cushions people from the consequences of their actions whether around the way they drive or their eating and wellness habits. None of these are economic problems per-se, and their solutions will not be found in economic re-engineering.
While America deals with its problems in the short term, we will need to rebuild the very fabric of what defines us as a nation: our values, our work ethic and our willingness to earn a living by making valuable contributions to others.