But Krugman’s forecast for such a system being introduced in the United States is a clear, “No. Or at least not for a long time …” due to two main obstacles: first, the power of the US financial sector, which "would never allow a public system to compete with its products (…) especially if the public system is superior”.

Now let’s hear from the soon to be tazered economists trumpet the beauty of free markets, deregulation and competition!