Most of the commentary on President Obama’s Tuesday evening State-of-the-Union Address has focused on the seemingly endless list of policy proposals he put forward – education, green energy, manufacturing hubs, minimum wage, and on and on. And understandably so, because that’s the minutia that Congress, the administration, and Washington more broadly obsess over day in and day out.

But if you step back, as I did yesterday in a piece at Forbes, you see a “national industrial policy” not unlike that of Obama’s mentor, Franklin Roosevelt, that is at once, as with Roosevelt, indifferent to constitutional limits and oblivious to economic principles. It’s really quite striking from that perspective. Have a look.