Bizarre Claim: Businessmen Don’t Create Jobs, Consumers Do

May 17, 2012

Bizarre Claim:

I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is a “circle of life” like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and hiring. In this sense, an ordinary middle-class consumer is far more of a job creator than a capitalist like me. 

Emphasis added. Full Article: The Inequality Speech That TED Won’t Show You (Oooh! TED censorship! How scandalous!)

The purpose of the claim, as I can tell, is to relieve any anxiety the reader may have felt about the government’s helping itself to people’s property:

That’s why our current policies are so upside down. When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer.

So, help yourselves, Washingtion! Help yourselves, America! Don’t worry. You won’t kill any jobs! ….Well, okay. Not so fast. Read the rest of this entry »


Links for November 28, 2011: Cheap Chinese Labor; Money; Unfortunate Baby Names; others….

November 26, 2011
  1. This image accompanied the article at Phawker. What emotion toward Chinese workers is this image calculated to instill?

    I first caught this article re-posted at Phawker.com under the title, How Steve Jobs F*cked Over The American Worker. Steve Jobs could have sat at home and played his Atari all day. He chose instead to revolutionize the way we communicate. This is the thanks he gets.

    But in 1996, the moneymen on Wall Street decided Apple was not living up to their expectations. Earnings had sagged. To raise cash and bolster the bottom line, the company was forced to unload assets. The Fountain plant was sold, just four years after it had opened. The plant was profitable and well-run, but Wall Street’s relentless focus on short-term earnings demanded results.

    It’s called efficiency. Those who see jobs as ends in themselves don’t seem to care a lick about it. Read the rest of this entry »


Links for Monday, June 27, 2011: Marine Killed in Drug Raid; How to Create a Job; Intro to Constitutional Law; others….

May 22, 2011
  1. Raw video: PCSD helmet cam clip shows SWAT raid and shooting

    The raid that killed marine Jose Guerena. Story above.

  2. The officers were mistaken in believing Mr. Guerena fired at them. However, when Mr. Guerena raised the AR-15 semi-automatic assault rifle in their direction, they needed to take immediate action to stop the deadly threat against them.

    Police need to try to understand: when a team of them kick down someone’s door for no good reason and infiltrate with guns drawn, they are guests in the other people’s homes.

  3. I’m not necessarily agreeing that cutting government and regulations is a “race to the bottom”, but they are asking the right questions about government claims of job creation. Read the rest of this entry »