Trump Is Not the Problem – Slow Growth Is the Problem

How Can America Restore Dynamic Growth and Entrepreneurship?

::: David Brooks ::: New York Times

The central task for many of us now is not to resist Donald Trump. He’ll seal his own fate. It’s to figure out how to replace him — how to respond to the slow growth and social disaffection that gave rise to him with some radically different policy mix.

The hard part is that America has to become more dynamic and more protective — both at the same time. In the past, American reformers could at least count on the fact that they were working with a dynamic society that was always generating the energy required to solve the nation’s woes. But as Tyler Cowen demonstrates in his compelling new book, “The Complacent Class,” contemporary Americans have lost their mojo.

Cowen shows that in sphere after sphere, Americans have become less adventurous and more static. For example, Americans used to move a lot to seize opportunities and transform their lives. But the rate of Americans who are migrating across state lines has plummeted by 51 percent from the levels of the 1950s and 1960s.

Americans used to be entrepreneurial, but there has been a decline in start-ups as a share of all business activity over the last generation. Millennials may be the least entrepreneurial generation in American history. The share of Americans under 30 who own a business has fallen 65 percent since the 1980s. The op-ed is here.