Y'know, it's weird. I was just reading an article about how our economy is investing strangely little amounts of capital in innovation, R&D, etc etc. Instead, employment is fairly healthy and productivity increases are starting to be eclipsed by wage growth. What is going on?[1]
I think that the author's most powerful point is his final one: "The U.S. economy’s creative-destruction engine is broken." People aren't moving around to where the jobs are as much as they used to. They're not moving between jobs as much as they used to. They're not creating many new businesses, and they're certainly not creating new industries.
Technology holds so much promise, but there's an extremely severe dearth of capital. And I say that at a time when investors are supposedly looking high and low for places to invest their money.
Well, I say that this is what happens when you consolidate too much; there's nothing left to invest in, and no way for new players to enter unless one of the bloated, festering incumbent market-shoggoths finally bites it. That's where we're headed if we don't start to break up our economy's local behemoths. Or at least if we don't start empowering individuals more. If people made enough money and had the legal freedom to pursue their dreams in their off hours, more of them would probably be inclined to do so.
I think that the author's most powerful point is his final one: "The U.S. economy’s creative-destruction engine is broken." People aren't moving around to where the jobs are as much as they used to. They're not moving between jobs as much as they used to. They're not creating many new businesses, and they're certainly not creating new industries.
Technology holds so much promise, but there's an extremely severe dearth of capital. And I say that at a time when investors are supposedly looking high and low for places to invest their money.
Well, I say that this is what happens when you consolidate too much; there's nothing left to invest in, and no way for new players to enter unless one of the bloated, festering incumbent market-shoggoths finally bites it. That's where we're headed if we don't start to break up our economy's local behemoths. Or at least if we don't start empowering individuals more. If people made enough money and had the legal freedom to pursue their dreams in their off hours, more of them would probably be inclined to do so.
[1]: https://www.theatlantic.com/business/archive/2017/05/so-wher...