The US election was fought on first principles: should government be strengthened or dismantled? The answer was resounding. The public wants better government, not less government.

Much of the economic debate in the US has been over short-term stimulus but the election turned on long-term structural issues. Barack Obama solidly carried much of the Midwest because he championed an industrial policy for the automobile and allied industries. What saved the Midwest was not a temporary stimulus but a skilful rescue package, complete with government financing and public investment in research and development directed at next-generation electric vehicles.

Though climate change was the issue, neither candidate wanted to mention it played the leading role in the final act, in the form of Hurricane Sandy. Not only was the east coast reminded of the furies of a rising ocean level; it was reminded again of the need for collective action to anticipate, ameliorate, and respond to emergencies.