Monday, October 4, 2010

How Government Kills Jobs

Robert Samuelson on how government private job creation so hard.
... government disincentives to entrepreneurship. Panner, a registered Democrat, criticizes complex accounting, employment, and health care regulations imposed by federal and state agencies that consume scarce investment funds and time. The fragmented system of business oversight imposes a bureaucratic bias, perhaps unintended, on startups. Any one rule or tax may seem justifiable; but the collective effect can be crushing.

It's all about risk-taking. The good news is that the entrepreneurial instinct seems deeply ingrained in the nation's economic culture. Americans like to create; they're ambitious; many want to be "their own bosses"; many crave fame and fortune. (Panner is already involved with a new startup, TownFlier. It has five employees.) The bad news is that venture capital for startups is scarce and political leaders seem largely oblivious to burdensome government policies. This needs to be addressed. Entrepreneurship won't instantly cure America's jobs' deficit, but without it, there will be no strong recovery.

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