The Free Marketeer
- Small businesses created a whopping 65% of all new jobs in the last decade and a half. But despite the small business sector’s efforts, the economy will continue to contract as the government expands. Unemployment remains at 8.5%, while underemployment has reached 15.2%, and entrepreneurship is at a 17-year low.
- Small Businesses with fewer than 20 employees spend over $10,000 a year per employee to comply with federal regulations. Businesses with 20-499 employees spend over $7,000 per employee on annual regulatory compliance.
- A recent Chamber of Commerce survey of small business executives reveals that 85% believe our economy is on the wrong track, and 8 out of 10 say they’d rather Washington stay out of business’s way rather than provide a ‘helping hand.’ Almost 90% prefer more certainty from government, while only 6% say they prefer more government assistance with the economy.
Quote of the Week:
"Indeed, a major source of objection to a free economy is precisely that it does this task so well. It gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself."
Milton Friedman, Capitalism and Freedom