The Washington Post publishes an editorial today supporting Japan's Prime Minister Koizumi, who has called an early election over the issue of postal savings system reform. Painful though it must be for the Post to support a conservative, the paper goes even further and advocates the effectiveness of market mechanisms over political—bureaucratic methods of capital allocation.

Prime Minister Koizumi continues to break the mold of postwar Japanese leaders. He is truly earning a place in history as a bold and visionary leader. Congratulations to the Post for recognizing this fact. Today's editorial is certain to be widely noted in Japan.

Hat tip: Ed Lasky

Thomas Lifson   8 15 05