Friday, March 17, 2017

CEOs Are Upbeat About The Economy--This Is A Self-Fulfilling Prophecy

By Forbes, March 14, 2017

A general truism about the economy is that major productivity improvements, major technological changes, even major employment growth, do not come from extant large companies. Those three things, that is the basics of the long term development of the economy, come from large firms dying and small firms growing. However, in the shorter term the business cycle, what we might call the macroeconomy, does indeed depend upon those large and already existing firms. And strange to say it but the CEOs of those large companies make one heck of a difference to what happens in that short term to that macroeconomy and the business cycle. This is thus a good sign of the immediate and near future.

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