4. Reinvention and Change are What the U.S. is All About
The financial and real estate sectors got way too fat in the 2000s. They're shrinking rapidly, and our economy needs to find new drivers of growth and prosperity. That's not going to be easy, but it certainly helps that switching gears is something of a national specialty. We Americans are willing to move thousands of miles from home, to change careers, to strike out on our own, if that's what it takes to get by. This is far less true in most other countries in the developed world. And as the economic crunch goes global, it is becoming increasingly clear that the U.S.—despite being the epicenter of the meltdown—will be far from the worst hit. This isn't just because we're an adaptable lot; it has much to do with the inherent (and inherently unfair) advantages of having the dollar as the world's reserve currency. Whereas it once looked as if this crisis would knock the dollar off its pedestal and forever diminish the global stature of the U.S., that's not such an obvious outcome any longer.