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Rumours of the demise of American enterprise are exaggerated



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SOMETHING IS ROTTEN with the state of American capitalism. That, at least, is the sentiment in Washington, DC. Democrats and Republicans argue over the rot’s causes. Progressives blame corporate fat cats. Conservatives finger feckless regulators. But there seems to be agreement across the ideological spectrum that American enterprise isn’t what it used to be: less dynamic and more monopolistic at home, and having its lunch unfairly nibbled by Chinese and other rivals abroad.Listen to this storyYour browser does not support the element.Enjoy more audio and podcasts on iOS or Android.Not so fast. As our analysis …

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