Looking at the Preznit’s talk to the Chamber of Commerce today, it struck me that he said something so obvious as to be tautological — except he doesn’t see it.
He says that if he does things to make America more friendly to business, it’s business’s “responsibility” to hire more people in America.
What he doesn’t see is that if he succeeds in making America more friendly to business, then America will automatically hire more people.
But it works the other way, too: if America isn’t hiring more people — and especially if American businesses are sitting on cash rather than expanding their businesses, investing more money, growing — that’s a sign that America isn’t friendly enough to business.
We’re in the middle of the largest, most obdurate employment slump since FDR; what is the lesson here?