So, he’s found out that most of the world doesn’t have a secure job. There’s an awful lot of people out there self employed. So, therefore:
But third, and perhaps most significantly, this perception changes the whole rhetoric about wealth creation. How can the wealth creators be those working on very highly paid employed contracts with guaranteed bonuses when they are the most removed from risk? Surely they are the furthest removed from being described as business people in this world view? Where is their down side? For all practical purposes there is none: even their futures are guaranteed through pensions that provide security to them and their families, come what may.
Don’t get me wrong: I am not saying these people do not have abilities: they do. But so too does the person who has to provide for a family with no security at all where all their ingenuity has to be brought into play precisely because there is no guaranteed outcome, whatsoever.
If business is characterised by risk taking (and by and large it is) who are the real business people? And who are the wealth extractors? The question is genuine because the answer is so important to our economies, our politics and our tax systems, where the taxation of rents has traditionally been accepted at higher rates. And I think we have that answer wrong. It is the self employed and the temporary workers who are the real wealth creators almost precisely because they are the main repository of risk within the world economy.
And guess what he’s missed? Yah, the distribution of those self employed. it’s the poor countries that have the majority of the population as self employed. It’s the rich countries that have a majority of the population as employed. Whgat is the definition of the difference between being a rich country and a poor one? That lots of value is being added in a rich country.
So, who adds value? Sure, could be those who go and create employment but at the level Ritchie’s talking about it’s obviously employment that does, not self-employment.
And if that’s right then when someone wants to talk to business people the self employed have to be at the table.
Who in buggery is he pitching for a job from now? Federation of Small Businesses or summat?
Is that JRF grant about to run out?