Fjordman points out an intriguing post at Samizdata, and has this to say about it:
An interesting thread here. Will the increasingly obvious failure of Western elites cause ordinary people to turn to a Great Leader who will “fix” the problems by even more government and state intervention, or will the crisis turn out to be an opportunity for more liberty, a blessing in disguise? My one fear with the optimistic scenario is that we have a large bunch of Muslims as well, at least in Europe, and that the internal ethnic tensions in the Western world caused by mass immigration could lead to further chaos.
Are you optimistic about the future? Several months ago I was not, but I am now. From what I can see, governments are walking down the path of their complete moral and financial bankruptcy far more quickly than I ever imagined they would. I thought that it would take our overmighty governments several slow, demoralising decades of decline and eventual collapse to completely discredit their authority and control in the eyes of the people. However, our governments appear to be going supernova right now and I suspect they will burn themselves out over a few painful and tumultuous years — destroying a great deal of wealth in the process, no doubt. However, as worrying as that prospect is, it was always going to be that way. And in spite of that, I feel particularly upbeat about the longer term future. Those who know nothing more (and expect nothing less) than widespread government authority and control over all aspects of our lives will have their imbecile — sorry, umbilical — cords to the State cut sooner than expected, thanks to the overwhelmingly reckless (but entirely predictable) government response to the current financial crisis. I really do believe that future historians will pinpoint this crisis as marking the beginning of the end of the big-government era.