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“Everyone knows” that, starting in the late-1970s, waves of financial de-regulation destroyed most of American business’ incentives to invest their earnings productively, and instead hooked them on wasteful financial gimmickry, right?

My new article for Marketwatch.com, posted this morning, makes clear that in this case, what “everyone knows” is flat wrong — at least according to the most authoritative statistics. Click here to read all the surprising details – and their huge policy implications.