This morning in my daily New York Times headlines I saw this:
"Victors in Japan Are Set to Abandon Market Reform:
Japan’s opposition party, which has returned to power, pledged a shift away from deregulation and market-led growth, but its economy may in fact need more of that."
The article overall represents the state of the Japanese economy with statements like this:
"Many outdated rules protect inefficient companies, while entrepreneurship is kept in check by cumbersome barriers. Economists say excessive government assistance to small and medium-size companies works to dampen competitive pressure."
On one hand, I was happy to see these kind of statements in a liberal paper like the NYT. On the other hand, the article repeatedly mentions "American-style free-market economics", which makes me feel that the author believes that America still represents this ideal. The article never stated or implied that the US should also be looking out for the dangers of socialism.