Not true for the U.S. It was greed, lack of regulation (and the enforcement thereof), and absolutely no measure of corporate accountability that lead to this and recession in the past. The masses keep getting lead around by their noses by the few, both powerful and political, with their easy-to-swallow messages of hate, envy, and greed. No body wants to follow a long term plan. We have one of the worst recessions since the great depression and everyone is pissed that within a year things aren't back to normal. No one wants to do the hard work of building an economy that is based on hard work resulting in tangible value. It's all fraudulent financial gimmickry (big business, hedge funds) coupled with a me, me, me attitude (no individual responsibility, ridiculous compensation - both executives and unions/government). Pointing the finger solely at government is pretty damn naïve.
Yes rods for everyone; let's make huge investments in education. If corporations would rather outsource to cheaper labor markets than train/re-train their local workforce then we'll take the money for education from them in the form of a tax.