For four years, since the start of the financial crisis, people have been asking the question, “Why is the economy so sluggish?”
There are all sorts of reasons, all sorts of reforms that could be implemented, but weren’t. However, one of the most important reasons seems to have been forgotten by almost everyone.
The experts keep telling us not to worry because “America has the most dynamic economy in the world.” Roughly translated, that means “Companies can lay off people at will.”
Those experts have forgotten that there are two factors in a “dynamic economy” and only one of them is labor. The forgotten factor is – competition – and the primary enemy of competition is monopolies, not labor.