The Economist, which I consider the best business magazine in the world, had a great cover story about America the other day. The title of the story was: "The America That Works" and the sub-title said "The competitive surge that even Washington cannot stop." Let me give you some highlights from this in-depth story. First, American business and industry is adopting technological innovation at an amazing rate. Hello, efficiency and productivity. Second, there is an American energy revolution, specifically fracking for oil and gas, which is replacing imported oil, despite Washington. Third, the American revolution in education in which people learn to do things, and is setting the stage for a whole new American work force. But the one that surprised me is the belief that government influence on the American economy is now coming from state governments, not from Washington. The Economist is not the only source that believes American business is on a roll, and that our new economic strength is being built from the ground up, not from Washington down. More and more we are hearing analysts say the reason for the strong stock market is a belief among investors that American business will do well no matter what happens in Washington. What do I read into this in-depth study of American business? First, there exists an old business model which combined corporate America and Washington, and it is not working. And there is a new "America That Works" which is beginning to blossom. Perhaps more important: The Economist has a very good track record for predicting business trends around the world.<br />
