The curse of middle-aged capitalism by Robert J. Samuelson
Samuelson notes:
“A persisting puzzle
about the U.S. economy is how it can seem both strong and weak. On the one
hand, it remains a citadel of innovation, producing new companies such as Uber.
On the other, the economy is expanding at a snail’s pace of 2 percent annually
since 2010. How could both be true? Why isn’t innovation translating into
faster growth? The answer — or part of the answer — is that American businesses
are running on two separate tracks. Call them the “youthful” and “middle-aged”
tracks.”