On his blog, John Cochrane happily reports about apparent agreement between Larry Summers and himself regarding the dangers of regulatory overkill and incompetence of government officials.
John writes:
This is a watershed. Here is the kind of reach out for middle ground that could unlock our political and economic sclerosis. Larry is likely to be in government again sooner or later, and I hope he will push hard for this — and with more effect than the last hundred or so anti-red-tape and regulatory reform commissions.