This competition between the states holds out the prospect of remaking the economic and political map of America, as new economic state powers pursuing pro-growth policies arise, replacing the over-the-hill, declining, economic state powers pursuing the blind alleys of sterile, defunct, redistribution policies of the past.
Even if Cowen is wrong about the pitch of the technological plateau and the severity of income stagnation, he has nonetheless put radical innovation and economic growth back on the map.