He\’s finally noticed that it\’s start up companies that create new jobs, not large established companies.
He then goes on to talk about how we might encourage more start up companies. At which point he fails to even mention tax, regulation or the venture capital industry, all generally considered to be the important things about encouraging the creation of new companies.
But you cannot say this often enough: Good-paying jobs don’t come from bailouts. They come from start-ups. And where do start-ups come from? They come from smart, creative, inspired risk-takers. How do we get more of those? There are only two ways: grow more by improving our schools or import more by recruiting talented immigrants.
No Tom: you encourage those who are marginally dissuaded by tax, regulatory or financing difficulties to become persuaded by removing those tax, regulatory or financing difficulties.
Just as a little example, we\’re still mulling over building a factory for a new extraction method of my favourite metal. There\’s absolutely not one tiniest iota of a chance that that factory will be in the USA….not with the EPA around.
Some peeps I know tried a similar plan (similar but different) a few years back. There\’s a huge mountain of lightly radioactive waste. Bit higher than background levels of radioactivity, perhaps a little less than you\’d get in a granite quarry.
Everyone would rather like that mountain to be cleaned up and that\’s what they were going to do. Extract what\’s worth extracting ….and a side effect would be extracting the radioactive bits from the mountain. You\’re then left with a mountain of dirt that\’s not going to do anyone any harm.
But, also, a few tonnes of radioactive oxides. Which would go into perhaps long terms storage. Note that no radioactivity has been created here, it\’s only been concentrated. But the EPA nixes the whole idea because having the radioactivity concentrated into something easily stored is clearly and obviously far worse than leaving it in the mountain where the winds blow it all around the surroundung county.