The transition from the old economy to the new economy is now complete. More people make their livings shuffling and dealing cards in casinos (82,340) than running lathes (14,880). There are almost three times as many security guards (1,004,130) as machinists (385,690). Whereas 30 percent of Americans worked in manufacturing in 1950, fewer than 15 percent do now.

That from Christopher Caldwell writing in today's NYT Magazine.

"The economy as politicians present it," he proclaims, "is a folkloric thing. Choreographers, blackjack dealers and security guards have replaced factory workers as the economy's backbone, if not yet its symbol.

"The new economy we have been promised is in place."

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