Entrepreneurs Create Jobs, Not the Wealthy

Guest blogger today for Patch:

Driving home today I was listening to the radio and yet another discussion of the politics of the debt ceiling and financial challenges facing our country.  On more than one occasion I heard the comment “wealthy people create jobs” as an argument to against increasing taxes on the wealthiest Americans.

The tax policy debate aside, the statement is just wrong.  Entrepreneurs create jobs, not the wealthy.

Read the entire post here.

America’s Competitive Advantage

As an advocate for entrepreneurship, in late 2005 I was asked by a friend to write an article about my thoughts on entrepreneurship and immigration policy.  Researching that article I cam across some very interesting statistics on the productivity of foreign-born entrepreneurs, the United States dependence on foreign minds and the most surprising, that during the dot.com 1990s, more than 50% of start-up companies in silicon valley were started by foreign-born nationals.  In a nutshell, America’s competitive advantage is its ability to attract foreign entrepreneurs and innovators.

Continue reading →

Why We Need Entrepreneurs

Dr. William Peck, chairman of Innovate St. Louis penned a very nice Op-Ed piece for the Business Journal on the importance of entrepreneurs to our economic recovery.  As entrepreneurs create almost 100% of new jobs in the United States, supporting entrepreneurs should be the number one economic development priority for the region and state.

Entrepreneurs are enormous contributors to both regional and national economic success. They create business entities that provide the majority of new jobs and exhibit the potential to rise to national and international significance. They collectively act as a hedge against the inevitable failure, relocation and downsizing of some established enterprises and offer an economic diversity that helps protect against destructive downturns in individual business sectors. Entrepreneurs advance the quality of life, wealth and the economy in the community as they capitalize upon opportunities to advance innovation. Continue reading →