No, I’m merely surprised that Yglesias is using the Green Lantern as a point of comparison. According to him, the power ring is the American military. It can only be wielded properly by someone with sufficient abilities to overcome fear. Completing the analogy, this would mean that Hal Jordan (or whoever you favorite Green Lantern is) is really George W. Bush, commander of the American military. The Guardians of Oa, then, are basically the people who elected Bush & Co., believing he possessed the requisite skills to command an army.
Sure, the Guardians of Oa award power rings to only those members they consider having surpassed a certain threshold of bravery, fearlessness, and willpower. But having the “guts” to engage in international military conflict isn’t exactly what the Guardians had in mind. In my view, the power rings are not awarded to individuals with enough fearlessness to use them, but with enough fearlessness not to.” —Ecocomics: Arguing Against the Green Lantern Theory of Geopolitics