Today’s Quickie

Thomas Friedman of the Intl Herald Tribune

“Son, your ego’s writing checks your body can’t cash.”

Well, this may be old hat for specialists but it surprised me. Is the same true for Britain? In either case, as Friedman says, it suggests we should explore more forcefully the ways we could aid business startups.

I always find Thomas Friedman excellent value for the time invested in reading him! See here:

“Here’s my fun fact for the day, provided courtesy of Robert Litan, who directs research at the Kauffman Foundation, which specializes in promoting innovation in America: “Between 1980 and 2005, virtually all net new jobs created in the U.S. were created by firms that were 5 years old or less,” said Litan. ‘That is about 40 million jobs. That means the established firms created no new net jobs during that period.’”

And if you want to know where the opening quote comes from, read the Friedman article!

By Chris Snuggs

2 thoughts on “Today’s Quickie

  1. This is exactly what I have been screaming about for over a decade. To impose 8 percent capital requirements on banks when they lend to small businesses or entrepreneurs and only 1.6 percent when lending to already made it AAA rated clients is suicidal for a society that is of course unless what it is really looking for is to find the kool-aid that allows it to commit suicide as painless as possible.

    Read more here http://blogs.ft.com/economistsforum/2009/10/free-us-from-imprudent-risk-aversion/

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  2. We have to take Friedman with a grain of salt. A lot of what he says in that editorial is well known. Many countries have long been trying to implement it.

    Friedman does not understand big companies. But he uses a big car, flies in big planes, moans about the lack of bigness in the USA… Small companies help to future, but they do not contribute much for the every day bigness we dependent upon.

    Friedman never saw a big WMD he did not like. The present wobbling of the USA is caused by the immense investment in making Iraq all the USA could make it to be. The capital was found missing in the USA. Friedman deserved contempt then, and the NYT sent him to pasture for a long time. I admit he has been improving a lot in the last year or so. He must be reading good stuff. (He used to get it by email.)

    PA

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