U.S. Startup Growth And How It Affects The Economy

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Despite a deadly pandemic coupled with the recession, the U.S. recorded a total of 6 million new business start-up applications – a boom that not many would have predicted at the start of the pandemic.

This trend, and what it might mean for the American economy, could be explored in two theories: the first is that many of the new opportunities and jobs are pandemic-friendly, and, as the world returns to normal, many of these companies could die.

Whereas the first theory sees an economy swinging from a normal economy to a pandemic economy and then returning to a normal economy, the second, as explained by the economist John Haltiwanger of the University of Maryland, sees the trend as a rocket ship toward a better economy, as the pandemic forced the business world to abandon outdated practices and view technology in a new light.

For more information, read the original story in NPR.

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