Source: The American Interest, Nov 2015
New business start-ups are the lifeblood of the American economy, now more than ever. Even in normal times, small business is where most of the new jobs come from. It’s small businesses that revitalize neighborhoods, give poor people a chance to get ahead. And ultimately, it’s some of the small businesses of today that will become the innovative big firms of tomorrow.
Millennials and their successors are going to have to create the jobs they want rather than hoping that corporate and government bureaucracies will provide them with lifelong careers.
We are now in what appears to be yet another transitional era. The old system works less and less well, but, as in the 1880s and 1890s, we aren’t yet sure what the new version of the Dream will be like.Over time, we will start to get a clearer vision of what a prosperous information based economy will look like, but one thing is already clear: version 3.0 of the American Dream is going to depend much more on small business.