Jan. 28 (Bloomberg) -- President Barack Obama’s proposalsfor aiding small business in his State of the Union address fail to touch on innovation, said economist Edmunds Phelps, winner of the Novel Prize in economics in 2006.
“All those Ma and Pa grocery stores are not innovating that much,” Phelps, a professor at Columbia University in New York, said today in an interview on Bloomberg Radio from the World Economic Conference in Davos, Switzerland.
In last night’s address to a joint session of Congress, Obama proposed tax credits for small businesses and the elimination of capital gains levies on small business investment.
To read the full, original article click on this link: Obama’s Small Business Aid Won’t Fuel Innovation, Phelps Says - BusinessWeek
Author: Vincent Del Giudice and Thomas R. Keene
