Navigating the Winds of Change: Perspective from the Top 

29:30, wow what a prediction.

A short line on the US economy: pessimistic in the short run, optimistic in the long run. Companies move their domiciles to reduce tax obligations and in the temporary period of lack of disruptive technology being adopted across sectors, like Windows 95, Tobin'sQ approaches 1 and companies end up hoarding cash. Since countries can't co-operate in tax policies, governments have to deal with secular stagnation running growing debts to solve social problems. Companies only train employees, that is why they need to pay taxes so governments have the financial resources to train unemployed population and invest in technology. More importantly, most disruptive technologies are built on foundation technologies developed in military, because no company would spend money developing a technology for thirty years without seeing a return, only nations would, for the sake of national security.