The real jobs machine: Entrepreneurs
by Pat Cleary
File this under, "Yeah, we knew that," but there's a great piece by the estimable Bob Samuelson in today's WaPo by the above title. Of course, as the Champions of Free Enterprise, we well recognize the great economic power of entrepreneurs. We see it every day. But it's always good to get a little independent third party validation.
Samuelson talks about the ebb and flow of job creation and cites a recent Census Bureau study which documented the great job-creation power of start-ups. After puncturing a few "myths," Samuelson quotes one of the study's authors - a Democrat, coincidentally - citing the "complex accounting, employment, and health-care regulations imposed by federal and state agencies that consume scarce investment funds and time" of entrepreneurs.
"The fragmented system of business oversight imposes a bureaucratic bias, perhaps unintended, on start-ups," says Samuelson. "Any one rule or tax may seem justifiable, but the collective effect can be crushing."
"Political leaders seem largely oblivious to burdensome government policies," he concludes.
Sadly, we knew that, too.