When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Friday, September 2, 2011

How a free economy can create jobs

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In the midst of all the doom and gloom on the economic front, the pundits have all been focused on Washington--Obama, Congress, and the Fed, when the truth is they can have very little impact (other than negative) on creating jobs in the private sector in the near term (and in view of the current political stalemate). Reforming the tax system would help--but it'll take a political miracle, so don't hold your breath. Less oppressive regulation?—Yes, by all means get government off the back of business, innovators, and entrepreneurs.

In the midst of it all, free enterprise (where unhindered by regulation and other governmental barriers) strives against the countervailing forces--here's one current example:

Topshop, the hipster clothing chain from Britain, plans to debut on the Mag Mile (Chicago) Sept. 8. The fashion chain is taking over the corner space formerly occupied by Borders book stores at 803 N. Michigan Ave. The 49,000-square-foot space will house Topshop in the basement and first floor. Topman, the men's division, will be located on the second floor. The store joins rivals H&M and Zara and Forever 21 on Chicago’s famous shopping boulevard..

No stimulus funding, no special tax package, just free enterprise at work. Oh and by the way, Topshop's current plans for further U.S. expansion? British news reports suggest that Topshop also plans to introduce outlets in Los Angeles, Miami and New York. http://www.vancouversun.com/life/cheap+chic+Topshop+fashion+retailer+open+Vancouver/5267618/story.html#ixzz1WotHI38d

The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects