As someone pretty invested in an institutional view of politics, I should say that last night's elections show the limits of the approach. If economic performance were the sole predictor of political results, then Sharron Angle should have won the Nevada Senate race without a problem; at 14.4 percent, the state has the highest unemployment rate in the country, and Harry Reid -- with an approval rating in the low thirties -- was practically the He-Who-Shall-Not-Be-Named of Nevada politics.