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Real Economy Avoids Risk-Taking as Wall Street Embraces It:
“Has the intrepid American entrepreneur turned timid? Is the courageous, risk-embracing business pioneer becoming like the cowboy: a popular icon of a bygone time rather than a reflection of what America has become?
We might not be quite there. But there is a broad array of evidence, much of it hashed out in a long Wall Street Journal feature, that American workers and companies have grown more risk-averse in recent years.
Companies are less eager to expand payrolls to grow; the rate of small-business creation has ebbed; investment in startups is sluggish; workers are less likely to leave a job for a better opportunity; families aren’t as willing to move to a part of the country with more vibrant economic prospects. If these trends persist, it will restrain the pace of long-term economic growth.”