The White House didn’t invite the firms that will create new jobs to its “job summit” — dominated by the CEOs of big firms, Ivy League economists, and union officials — because they weren’t available. Many of them don’t even exist yet.
Our economic gospel says that small businesses create most jobs, although size doesn’t matter as much as age. In a new study on job creation, the Kauffman Foundation found that “from 1980–2005, nearly all net job creation in the United States occurred in firms less than five years old.”
Rich Lowry on National Review Online
