Debt is neither free nor irrelevant, as interventionists want us to believe, even if interest rates are low. More debt means less growth and a slower exit from the crisis, with lower productivity growth and a tepid employment improvement.
Protectionism is often most damaging when it prevents entrepreneurs from accessing products and services that would have increased domestic capital and worker productivity. The result is poorer workers and less productive domestic industry.
The enemies of the system of free enterprise paid liberalism an unintended compliment when they applied the name "liberal" to their own creed, historically the opposite of what liberalism stood for from the start.