The news that business doesn’t want to hear

Steve Denning:

The resulting index is bad news for business: It shows that, behind the mirage of financial engineering, mergers and acquisitions, tax gadgets, share buybacks, seemingly rising profits fed by cheap government money and soaring executive compensation, the underlying reality is harsh: US business is in a long-term secular decline and has been so for decades.
 The conclusion is inescapable: big hierarchical bureaucracies with legacy structures and managerial practices and short-term mindsets have not yet found a way to flourish in this new world.
 The Shift Index 2009 thus anticipated the conclusion to which macro-economists are now reluctantly coming, namely, that an economy comprising mainly big hierarchical bureaucracies are undergoing a “Great Stagnation” (Tyler Cowen) or “Secular Stagnation” (Larry Summers).
 The 2011 edition of the Shift Index covered industry-specific data for nine key sectors and provided a guide to the thought leadership, methodology, and data that drives the index’s metrics.