American Capitalism Must Reorient Toward the Long Term

David Teece & Aurelien Portuese February 19, 2025

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American capitalism is at a crossroads. For decades, it has followed a flawed strategy: prioritizing short-term profits, appeasing shareholders, and narrowly focusing antitrust policy on maintaining low prices. This strategy has produced temporary gains while undermining innovation, corporate resilience, and the United States’ long-term economic competitiveness.

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