Skip to comments.The Incredible Bain Jobs Machine
Posted on 07/17/2012 6:58:39 AM PDT by Hojczyk
Did Mitt Romney and Bain Capital help office-supply retailer Staples create 88,000 jobs? 43,000? 252? Actually, Staples probably destroyed 100,000 jobs while creating millions of new ones.
Since 1986, Staples has opened 2,000 stores, eliminating the jobs of distributors and brokers who charged nasty markups for paper and office supplies. But it enabled hundreds of thousands of small (and not so small) businesses to stock themselves cheaply and conveniently and expand their operations.
It's the same story elsewhere. Apple employs just 47,000 people, and Google under 25,000. Like Staples, they have destroyed many old jobs, like making paper maps and pink "While You Were Out" notepads. But by lowering the cost of doing business they've enabled innumerable entrepreneurs to start new businesses and employ hundreds of thousands, even millions, of workers world-wideall while capital gets redeployed more effectively.
This process happens during every business cycle and always, always creates jobs. Yet is ignored by policy mavens.
It is now four years after the wheels fell off our financial system. The government has tried every gimmick to revive the economy: fiscal stimulus, monetary easing, loan write-downs, foreclosure modificationsall duds. It seems like no one remembers how an economy creates jobs anymore. The right answer, in fact the only answer, for jobs and better living standards, is productivity.
How can government do the right thing to help productivity and the employment it fosters? Get out of the way. Every government-mandated low-flow toilet, phosphorous-free dishwasher detergent, CFL light bulb, and carbon-emission regulation is another obstacle on the way to a productive, job-creating economy that produces things consumers really want.
(Excerpt) Read more at online.wsj.com ...
If only the byline said “Mitt Romney”!
Along the way to that Nirvana we will have some bumps where people continue to think that stability in employment is achievable before we all become unemployed.
My thoughts exactly. This has the kernal of what should be Romney’s core stump speech that coupled with the identification and promotion of a group of public spirited, ordinary and “nice” entrepreneurs.
There used to be a slide rule store on my street. They were busy night and day- they were open 24 hours. You had to actually stand in line for half an hour just to buy a slide rule. Now it’s a typewriter store, but that doesn’t appear to be working out either.
“There used to be a slide rule store on my street. They were busy night and day- they were open 24 hours. You had to actually stand in line for half an hour just to buy a slide rule. Now its a typewriter store, but that doesnt appear to be working out either.”
After Obama gets thrown out of office he is going to open the country’s only carbon paper store and apply for stimulus funds as a green energy entity to compete with energy wasting Xerox copiers.He would do buggy whips but riding horses falls just below swimming in least favorite things to do on the south side of Chicago.
Yes, plain-speaking entrepreneurs should be featured on Romney’s spots. I run into them all the time. Each should be given his, or her say.