CHAPTER TWO
America’s Entrepreneurial Job Machine
“WHERE HAVE ALL THE JOBS GONE?” has been the constant question in all industrial Western countries these past few years. But for the United States, another question is at least as important—perhaps much more so—and yet it is never asked: Where have all the jobs come from? All developed industrial countries are losing jobs in the smokestack industries—even Japan. But only the U.S. economy is creating new jobs at a much faster rate than the smokestack industries are losing old ones, indeed at a rate that is almost unprecedented in our peacetime history.
Between 1965 and 1984, America’s population ...
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