No one has ever made money over the long term betting against the American economy. The United States consistently ranks near the top of world competitiveness rankings, because of its flexible markets and the relatively light hand of government thereupon. It has the deepest and most liquid capital markets on the planet, which can reallocate capital from failing businesses to promising ones in a blink of an eye. As a result, America has one of the world’s highest rates of formation of new businesses. Since the first sector to emerge from every recession over the last generation has been small business, the nation which led all others downward into the recent global recession can reasonably be expected to lead the world back out.
Despite ...
Get Your Macroeconomic Edge now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
