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Jobs, the Economy and Policy

September 11, 2011

Friday’s HBR.com article, The Key to a Jobs Plan that Works, by Jeff Stibel (@stibel on Twitter) tries to turn much current job growth strategy on its ear. Stibel advocates focusing on small business to drive job creation, observing “large businesses do not create jobs in the volume or manner needed to stimulate the economy.”

He draws monetary policy into the mix, noting that banks are loathe to accept the risk associated with small business lending, and tells us this policy must change. He fingers a small business lending program as the answer, here.

Then he moves on to income inequality as a factor limiting economic growth. Stibel reasonably infers that if consumers don’t have much money, the economy can’t prosper. This seems reasonable, even if it doesn’t seem to add up entirely. His argument is weakened only by an odd architectural metaphor.

I liked Stibel’s article. He’s taken a fresh look at the problem, and made constructive suggestions to boot. I don’t know enough to know if he’s  onto something or not, but Stibel merits credit for an innovative take on a problem we haven’t had much traction on. It’s worth a read.

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