The State of Jazz

I was recently listening to "The Best of Diana Krall" LP. It is an amazing album. But later, I reflected on the fact that she sang almost entirely 'standards,' which means the songs are all at least 50 years old. Then, I thought, why hasn't the Jazz Community produced any more recent songs that have become standards. Then I thought: it is most likely, that the same standards (i.e., basin street blues; willow weep for me, etc.) will be sung for the next 50 years--and I wondered, are we producing any songs today that will become standards. I don't think so. Bu, why not?