The policy vs markets debate makes for good rhetoric but lousy results. It's not if government should play a role in the economy. It's how best to do it.

The long slog of debt deleveraging (we're about halfway through) coupled with the rising risk of a global credit crunch implies the timing is right. From Erskine Bowles' CEO Fiscal Reform Council to the Occupy Wall St. movement, frustration is mounting. The need for market based, government supported, job creating policies is clear; what's missing is the will.