We will continue to go through these inexcusable, and harmful, boom and bust cycles until we--government, consumers, and business--acknowledge externalities.  You are absolutely on point that we have focused too much on money, and not recognized the true costs of producing or servicing widgets.  Too often costs are passed on to the public, or worse, the future, and too little we examine the opportunity costs.  This is a failure of the business schools, that became too short-sighted, but it is also a failure of government for not creating a public dialogue about this issue.  As a result, economists haven't the foggiest idea what they are doing.  Your seven points hit the nail on the head for the next step, and it will be up to the People to open and maintain this dialogue.

All of the current 20th century style Democrats who are salivating at the thought of building regulatory bureaucracies and dipping their paws in the public tax monies had better think again.

We are living in Gold Rush times.

The old economies of the DOW are falling to the floor.

But the new Hydrogen Economy and Nanotech Economy and Linux Netbook Economy are ready to burst through the ground and sprout up.

The last thing we want is a bunch of Clinton bureaucrats and Goremeisters to come in and prevent these natural market forces from saving us.