In a time when social media magnifies every grumble and grievance, it seems fashionable to proclaim that America is faltering, or as we heard repeatedly during the presidential campaign, America is in decline. A failing nation, in other words. Partisans and “influencers” lament job statistics, blaming outsiders for “stealing opportunities” from Americans. Yet this narrative of despair misses a much larger—and more inspiring—story: the resilience and ingenuity of the American people.
Despite the challenges of recent years, Americans have proven that the entrepreneurial spirit is alive and thriving. According to the Commerce Institute, an independent organization renowned for its economic analysis, Americans have filed over 25 million new business applications since 2020. This surge in entrepreneurship isn’t just a data point—it’s a testament to the enduring strength of the American Dream.
The past four years have tested the nation’s resolve in unprecedented ways. The COVID-19 pandemic brought sweeping disruptions, including severe restrictions imposed by an overzealous public health bureaucracy. Many businesses closed, and families faced economic uncertainty. Yet, instead of succumbing to despair, millions of Americans chose to innovate and reimagine their situation.
In 2021 alone, according to the same Commerce Institute study, 5.4 million individuals took the bold step of starting their own businesses, breaking previous records. That momentum continued into 2023, with 5.5 million new business applications—another historic high. These figures reveal a remarkable truth: When faced with adversity, Americans turn to entrepreneurship as a pathway to economic renewal and success.
From garage-based startups to tech innovations, Americans transformed challenges into opportunities, creating jobs and reinvigorating local economies. The entrepreneurial renaissance of the past few years is proof that the core values of hard work, innovation, and ambition are still thriving in America.
Strangely, this remarkable economic revival has received little attention from the corporate (mainstream) media. While headlines focus on cultural divisions and political controversies, few are celebrating this historic wave of American entrepreneurship. Even within conservative circles, the story has been ignored in favor of endless doomsaying and the-sky-is-falling hysterics.
This silence is a disservice not only to the individuals driving America’s economic recovery but also to the principles that make such a recovery possible. Free-market capitalism—rooted in the freedom to imagine, build, and prosper—is the cornerstone of America’s unique success and comparable advantage. Every new business represents an act of faith in the nation’s promise of equality of opportunity.
Our grandparents, who weathered world wars and economic hardships to build the world’s most prosperous nation, would be shocked by today’s defeatist attitudes. Instead of celebrating the unparalleled access to technology and information resources so readily available today, too many Americans are focused on perceived threats and buying what the merchants of doom and gloom are making a fortune selling them.
But America isn’t broken, in decline, and it certainly isn’t a failing nation. On the contrary, it is thriving in ways that only those with an optimistic spirit, courage and vision can fully appreciate. The entrepreneurial surge of the past few years is a powerful reminder that the American Dream is not just alive—it’s flourishing.
Is everything in America perfect? No. But let’s be honest with ourselves. The biggest threat to American workers isn’t the entrepreneurs in Silicon Valley or the highly skilled and unskilled from outside our borders. The real threat is in Washington, D.C., where an expanding federal bureaucracy stifles innovation and burdens our small businesses and private industry with dishonest money, excessive taxation, and regulation.
Agencies like the IRS, Federal Reserve, EPA, OSHA, FTC, and SEC have created an environment of compliance fatigue, where navigating red and green tape can feel more daunting than competing in the global marketplace. While regulations are often justified as safeguards for public safety and fairness, their cumulative impact has been to suffocate the very industries that drive economic growth.
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If the Republican majority in Washington truly wishes to empower American workers and families, it must address the unchecked power of these regulatory bodies. Reforming America’s confiscatory tax regime, ending the Federal Reserve, and streamlining regulations and reducing bureaucratic overreach would unleash even more entrepreneurship and the full and unequaled potential of America’s $30 trillion economy.
What sets America apart from every other nation is its unwavering belief in the power of individual initiative. The freedom to dream, take risks, and reap the rewards of hard work is the foundation of our democratic capitalist system. This entrepreneurial spirit has driven our nation’s greatest achievements and continues to be its most powerful asset.
Instead of lamenting perceived losses or chasing shadows, Americans should celebrate the extraordinary achievements of their fellow citizens. The record-breaking numbers of new businesses are not just a statistic—they are a call to action. They remind us that, in the face of any perceived threat or adversity, the American Dream remains a beacon of hope and opportunity.
Let’s stop fixating on what’s wrong in America and start celebrating what’s right. The glass isn’t just half-full—it’s overflowing with proof of America’s greatness and enduring resilience.
