This article reminds me of the “nattering nabobs” phrase used by William Safire to describe those who tell only part of the truth in order to promote a bigger lie. The Economist is good at this. It is helpful to remember that it is the British equivalent of the CFR’s Foreign Affairs, but from an economic point of view.
You can tell almost immediately where this article is going: it’s government…government…government!…that is responsible, not for America’s present economic decline, but for the good things America enjoys: the internet and oil shale fracking!
Nothing is said about the Federal Reserve, or fractional reserve banking that sent the American economy into recession. Nothing is said about entrepreneurship based upon what’s left of the rule of law and contracts to make investments based not on government edict but on private estimate of potential gain.
I could go on, but you get the idea. If you decide to read this article anyway, be sure not to swallow it. It’ll give you intellectual indigestion.