Now, after two decades of subpar growth, the question is whether or not the American economy has entered into its own era of secular decline.
This Broadside examines this troubling development, recognizing that there are no easy solutions to the problem. Lacking workable solutions, Americans will have to adjust to a future of slow economic growth, with all that implies for inter-generational progress, American strength abroad and political conflict at home.
James Piereson is a senior fellow at the Manhattan Institute where he writes about politics, economics, higher education, and philanthropy. He is the author, most recently, of Shattered Consensus: The Rise and Decline of America's Postwar Political Order (Encounter Books, 2015).