From my latest essay,

The death of the entrepreneur was greatly exaggerated. Over the past two decades, the strength of entrepreneurialism has been unmistakable. The economy has been much more dynamic than Galbraith would have predicted. Many of the industrial giants, which in Galbraith’s view were self-perpetuating, have fallen. The steel companies, chemical firms, and aerospace firms of yesteryear have shrunk, with most of them merged out of existence. On the other hand, companies like Microsoft, Intel, and Wal-Mart, which were not part of the economic landscape in 1968, are now more important than the old industrial base.