New Strategies

I have become increasingly convinced that the old strategies for economic revitalization simply do not work. Everytime I read a story about how much money is spent per job to lure large companies to a community the practical side of my nature has me wondering if it wouldn’t be a lot more efficient to just give the cash to the same number of unemployed or underemployed people.

The Kaufmann Foundation has just released a new study on job creation. They start out by saying:

“The oft-quoted American sports slogan, “Winning isn’t everything. It’s the only thing!” could well be attributed to the economic importance of firm formation in creating jobs. A relatively new dataset from the U.S. government called Business Dynamics Statistics (BDS) confirms that startups aren’t everything when it comes to job growth. They’re the only thing.”

What do you think?

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