Is it safe to assume there will be a shift in U.S. public policy, particularly with respect to the economy, just because President-elect Barack Obama and the Democrats will be in charge, as opposed to the George Bush-led Republicans?

The above may appear to be stating the obvious but historical evidence indicates that is not the case: over the decades there have been remarkable similarities in economic policies offered by Republicans and Democrats. It's the basis for the joke that the difference between the two is akin to the difference between Tweedledum (center-right) and Tweedledee (center-left).

A new era of reform?

Further, although Democrats have historically viewed government as an activator (and Republicans as a regulator), Democratic ventures, certainly from a European standpoint, with few exceptions, have been limited in scope. The largest and most influential, of course, has been Social Security -- the successful redistributive (although partial) pension program that lifts tens of millions of American senior citizens out of poverty every year.

However, the above is not to imply that Republicans can not be change agents. The impressive reforms by the trust-busting President Teddy Roosevelt (including the Hepburn Act of 1906, the Pure Food and Drug Act of 1906, the Meat Inspection Act of 1906, and numerous conservation programs) provide testimony to that. There's a reason Teddy Roosevelt's face is on Mount Rushmore.

This post is part of our Battle of the Brands feature. Let us know which brand you prefer, and watch out for more Battle of the Brands posts.

Every time I walk through a mall (not too often these days), I see a new "hip" store of which I was previously unaware. I can always count on a few mainstays, though ... the cell-phone-accessory kiosk manned by overly enthusiastic employees, the tantalizing aroma from Auntie Anne's pretzels, and the always tasteful novelty shops. In most malls, I can typically scope out the latest yuppie fashions in either Gap (NYSE: GPS) or Abercrombie & Fitch (NYSE: ANF) (and often-times both). Despite the encroachment of Hot Topic (NASDAQ: HOTT), Pacific Sunwear of California (NASDAQ: PSUN), and other trendy competitors, these two venerable names have stood the test of time, providing relatively affordable threads for men, women, and kids.

In addition to its eponymous chain, which was started in 1969, GPS runs the Old Navy and Banana Republic chains. The retailer's most recent experiment, Forth & Towne (created to appeal to thirty-something career woman) was a bust and has now been abandoned after 18 months. Same-store sales trends have turned south of late, dropping five percent in fiscal year 2005 and slumping seven percent last year. And during the past 12-month cycle, GPS has seen its quarterly earnings drop more than 35 percent. The stock is well off its highs, having lost two-thirds of its value since early 2000. With technical resistance bearing down in the form of the equity's 10-month and 20-month moving averages, relief might not be in sight for a while.