I am hosting a special call on Thursday, June 21 at 10:00am ET to discuss declining business dynamism. Americans often view their economy as increasingly fast-paced, competitive, and entrepreneurial, full of "disruption" and accelerating turnover: Just look at the overnight success of Facebook and Airbnb, or the sudden demise of Toys R Us and The Limited. But this view is increasingly contradicted by the data. In fact, labor mobility and firm startups are declining; the typical firm is getting larger and older; industry concentration is rising; and superstar incumbents are breaking away from the pack.
My presentation will take you on a wide-ranging, chart-filled tour through the emerging economic literature on "declining business dynamism"--what it is, why it matters, what's causing it, and what it means for policymakers and market performance.
Demography subscribers CLICK HERE for event details (includes video link, presentation link and dial-in details).
PRESENTATION OUTLINE
- Why declining business dynamism matters: Slowing productivity growth
- Nine indicators of declining business dynamism
- 1) declining rates of job creation and destruction
- 2) declining rates of job churn and geographic mobility
- 3) declining rates of company start-ups and firm turnover
- 4) declining number of total firms and (especially) listed firms
- 5) growing age and size of typical firm
- 6) declining turnover/turbulence in S&P 100 giants
- 7) weakening firm response to productivity gaps
- 8) rising market concentration
- 9) a widening divide between winners and losers
- Possible causes of decline
- Implications for policy and for market performance
CALL DETAILS
Please join us on Thursday, June 21 at 10:00am ET using the dial-in instructions below. Video and materials will be made available before the call.
Toll Free:
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UK: 0
Confirmation Number: 13680183
Video/Materials Link: CLICK HERE
Marketable: CLICK HERE