Job Creators: Who Do those Immigrants Think They Are?

Jan 12, 2012 | Politics

Immigrants founded or cofounded almost half of 50 top venture-backed companies in the United States, a new study shows, underscoring some of the high stakes in potential immigration reform.

The venture capital community argues the study, completed by research group National Foundation for American Policy, proves the need to overhaul rules governing how entrepreneurs can immigrate to the United States to spur job development.

VIDEO: Obamacare — Government Takeover of Medicine

Jan 12, 2012 | Politics

On Mitt Romney and Bain Capital

Jan 11, 2012 | Politics

About the best that can be said about the Republican attacks on Mitt Romney's record at Bain Capital is that President Obama is going to do the same thing eventually, so GOP primary voters might as well know what's coming. Yet that hardly absolves Newt Gingrich, Rick Perry and others for their crude and damaging caricatures of modern business and capitalism.

Bain's business model is little more than "rich people figuring out clever legal ways to loot a company," says Mr. Gingrich, whose previous insights into free enterprise include years of defending the taxpayer-fed business of corn ethanol.

[...]

We have our policy differences with Mr. Romney, but by any reasonable measure Bain Capital has been a net job and wealth creator. Founded in 1984 as an offshoot of the Bain consulting company, Bain Capital's business is a combination of private equity and venture capital. The latter means taking a flyer on start-ups that may or may not pan out, something that neither Mr. Gingrich nor Mr. Obama seem to find offensive when those investments are made by Silicon Valley firms in "clean energy."

[...]

One Bain investment during Mr. Romney's tenure was to back an entrepreneur named Tom Stemberg, who was convinced he could provide savings for small-business owners if they were willing to shop at a store instead of taking deliveries. Today, the Staples chain of business-supply stores employs 90,000 people.

[...]

Imagine what might have happened if Chrysler or GM had been bought by private equity two or three decades ago. They might have been turned around much earlier, at far less pain to fewer workers, and without any taxpayer cost.

Free Objectivist Books for Students

Jan 3, 2012 | Politics

Get any Ayn Rand novel or book about Objectivism for free. You just have to pledge to read it.

Examiner: Occupy protesters should be demanding economic freedom

Dec 16, 2011 | Politics

Leading the most-free states in this year's report are Delaware and Texas, while West Virginia and New Mexico are the least free. Protesters might argue that these benefits have been accumulated by relatively few -- the 1 percent -- while leaving the majority of Americans behind.

Let's look into this conjecture using data from the Economic Policy Institute, which compares the share of income of the highest earners to that of middle and lower income earners in the mid-2000s. These data do not demonstrate that more economic freedom has been the source of inequities in the distribution of income. In fact, if we compare the 10 most economically free states between 1981 and 2005 with the 10 least free states, the opposite is the case. The ratio of average family income of the richest fifth compared with the poorest fifth is 6.9 in the most free states compared with 7.1 in the least free states.

The gap between the richest and poorest is actually larger for the least free states. Based on these numbers, it is difficult to argue that the free market has led to worse outcomes for the majority of Americans. More government spending and higher taxation will not alleviate the plight of struggling workers.

Protesters seeking to improve opportunities for all Americans should be protesting on Capitol Hill, demanding Congress to give Americans back the freedom to pursue their own economic well-being through cooperative economic activities that lead to prosperity for all.