Wondering why the recoveries in the US and UK have generated so little in the way of new jobs?
Part of the answer comes down to the fact that they aren’t real recoveries of course. But the scarcity of good jobs (or any jobs) is also a function of what Diapason’s Sean Corrigan refers to as our “Rooseveltian demoralisation of the entrepreneurial class.”
Our US colleague Porter Stansbery explains the problem well in a recent article, in which he points out that, in the US, “if you’re a very successful entrepreneur… if you’re one of the rare, lucky, and hard-working people who can create a new company, employ lots of people, and satisfy the public” you’ll end up paying more than 75% of your income over to the government during your life.
It is worth a read; and note, as you do, that pretty much every point he makes applies to the UK too.