Saturday, November 30, 2013

No Job Creators Here

Henry Blodget Now Gets It–Rich People Do Not Create Jobs:
...It was a pleasant surprise to read yesterday’s piece by Henry Blodget. It is titled Sorry, Folks, Rich People Actually Don’t ‘Create The Jobs’. Henry Blodget wrote,

But, more importantly, this argument perpetuates a myth that some well-off Americans use to justify today’s record inequality — the idea that rich people create the jobs.

Entrepreneurs and investors like me actually don’t create the jobs — not sustainable ones, anyway.

Yes, we can create jobs temporarily, by starting companies and funding losses for a while. And, yes, we are a necessary part of the economy’s job-creation engine. But to suggest that we alone are responsible for the jobs that sustain the other 300 million Americans is the height of self-importance and delusion...

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