The European trajectory.
America presently faces a choice between a form of “cuddle capitalism”—what others consider creeping socialism, the therapeutic-nanny state—and a more dynamic market economy, rooted in liberty with limited government. The thesis of Samuel Gregg’s timely book is that we are embarked down the first of these paths and that America is actually becoming more and more Europeanized—to our detriment. Gregg, the Acton Institute’s director of research, analyzes this predicament through an economic lens. He is at his best exploring and refining the medium he calls “economic culture”: that is, “the value commitments, attitudes, rules, and institutions that shape and characterize economic life in a given society.”