Many in Britain and the United States are in mourning for whatÂ’s taken as the suicide of the American (or Thatcherite, or Chicago-school) model of capitalism, accompanied by the non-interventionist state that hands the national economy over to business and financial leaders to run.

Not least among the mourners ought to be The Economist magazine in London, a major part of whose charm has always been the insolent certitude with which it expresses its views. It is not a publication used to lunching on its own words. But The Economist too has become a victim of the world crisis, and its current issueÂ’s cover story pays a handsome tribute to the success of the formerly scorned, centralized, interventionist, Colbertist French economic model, and the state practices and values that support it.

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