The fleecing of millennials

Source: David Leonhardt, New York Times (Paid Registration)

For Americans under the age of 40, the 21st century has resembled one long recession. The main reason is a lack of economic dynamism. Not as many new companies have been forming since 2000—for reasons that experts don’t totally understand—and existing companies have been expanding at a slower rate. (The pace of job cuts has also fallen, which is why the unemployment rate has stayed low.) Rather than starting new projects, companies are sitting on big piles of cash or distributing it to their shareholders. 

Given these trends, you’d think the government would be trying to help the young. But it’s not. 

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