Also, the aftermath of the crisis has been associated with a decrease in business dynamism—for example, the rate at which new start-up firms are being created has declined.9  Have We Reached a Turning Point?
Having laid out the standard explanations for the slow pace of growth, I will now speculate on what a shift to a higher growth path might look like and what I think we may want to watch for. One factor that has certainly turned is fiscal policy.