Also, it might have pointed out that lots of smart folks now acknowledge that the past fifteen or twenty years have been an economic mirage, a series of bubbles inflated by the financialization of the economy. So what’s been a clear American lead in the economic-growth statistics needs to be revisited.

Krugman a couple of weeks ago noted a study that signaled that the productivity gap between the U.S. and Europe since 1995 came significantly from the financial sector. That turned out to be fake, and ultimately harmful, productivity.

Still, it’s overall a nice effort by the Journal.

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Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at rc2538@columbia.edu. Follow him on Twitter at @ryanchittum.