About Linda Monk

Linda R. Monk, J.D., is a constitutional scholar, journalist, and nationally award-winning author. A graduate of Harvard Law School, she twice received the American Bar Association's Silver Gavel Award, its highest honor for law-related media. Her books include The Words We Live By: Your Annotated Guide to the Constitution, Ordinary Americans: U.S. History Through the Eyes of Everyday People, and The Bill of Rights: A User's Guide. For more than 20 years, Ms. Monk has written commentary for newspapers nationwide, including the New York Times, Washington Post, Los Angeles Times, and Chicago Tribune

THE PARTY'S OVER By Linda Monk

The Crash of 2008, which is now wiping out trillions of dollars of our people's wealth, is, like the Crash of 1929, likely to mark the end of one era and the onset of another.

The new era will see a more sober and much diminished America. The "Omnipower" and "Indispensable Nation" we heard about in all the hubris and braggadocio following our Cold War victory is history.

Seizing on the crisis, the left says we are witnessing the failure of market economics, a failure of conservatism.

This is nonsense. What we are witnessing is the collapse of Gordon Gecko ("Greed Is Good!") capitalism. What we are witnessing is what happens to a prodigal nation that ignores history, and forgets and abandons the philosophy and principles that made it great.

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