Obamanomics: not your parents' liberalism

Lev points to these two posts at the League and summarizes:

The upshot is that Obama's view is a synthesis between the large-scale public investment views of a Robert Reich and a free-market outlook of a Robert Rubin. I think this is largely right, and that Obama's approach might well function as an example of how a 21st century liberalism can and should work. Unlike, say, Bill Clinton's "Third Way" that didn't really have much meat on it--much like Tony Blair, Clinton didn't really have an answer for what the federal government is supposed to do, aside from "helping people"--Obama's approach is much more sophisticated and intellectually complete.