After a financial meltdown leading to a severe recession on the Republican watch, and the flailing response of the Bush administration and the incoherence of congressional Republicans, one area that invites urgent new thinking is economic policy. It will be important, over the next four years, to fight to save free-market capitalism from the Obama administration. It will be almost as important--and more interesting--to figure out how to save capitalism from its own worst aspects and most damaging tendencies.