With all the doom and gloom in the news about the banks, the auto industry, the economy in general (and healthcare and education and... you get the picture) it's easy to conclude that everything is broken. It shouldn't have to be said, but I'm quite certain this is not the case.
Let's bear in mind, for starters, that the news is necessarily limited to reporting on the unusual and sensational, no matter how objective, fair, and balanced the journalists strive to be. As the great G.K. Chesterton (himself a journalist) observed:
It is the one great weakness of journalism as a picture of our modern existence, that it must be a picture made up entirely of exceptions. We announce on flaring posters that a man has fallen off a scaffolding. We do not announce on flaring posters that a man has not fallen off a scaffolding... That the man has not fallen off a scaffolding is really more sensational; and it is also some thousand times more common. But journalism cannot reasonably be expected thus to insist upon the permanent miracles.
Busy editors cannot be expected to put on their posters, “Mr. Wilkinson Still Safe,” or “Mr. Jones, of Worthing, Not Dead Yet.” They cannot announce the happiness of mankind at all. They cannot describe all the forks that are not stolen, or all the marriages that are not judiciously dissolved. Hence the complex picture they give of life is of necessity fallacious; they can only represent what is unusual. However democratic they may be, they are only concerned with the minority.
So yes, there are problems and many of them are big. People fall off scaffoldings.
Scoundrels make off with $50B. People are losing their jobs. But this does not mean
everything is broken.
For example,
small banks are generally
doing just fine (which pleases my
Distributist sensibilities to no end). And democracy in America is working - we just witnessed the peaceful transfer of power between Bush and Obama. Not just any old power - the presidency is arguably the most powerful position in the world (at least in the top 3 or 4, right?).
And for all the complaints about education and healthcare (many of which are quite justified, I'm sure), we still manage to save lives, produce new medical breakthroughs and provide world-class education to some of the most creative and intelligent people around. Students from around the world still come to America for college. I could go on, but I think you get the point.
I'm not saying everything is good. I'm just saying everything isn't broken.