Guest post by Dave Reiss.
Who’s the best jobs creator?
(a) Thomas Edison
(b) Steve Jobs
(c) Federal Government
A number of articles in last week’s Wall Street Journal revealed a profound and fundamental truth regarding our economy and the most effective way of creating jobs. One article traced the rate of home ownership over time and pointed out that home ownership is now at the lowest level since the depression. There is a direct correlation with this sad fact and the government’s decision and resultant policies determining that everyone in America should own a home regardless of their ability to afford one. Their attempt to manipulate the housing market with irrational regulations pertaining to the qualifications for mortgage lending left the country reeling economically on every level.
The next article had to do with Steve Jobs and his remarkable journey with Apple computer. In this editorial, the Wall Street Journal traveled through history to identify an innovator who could be compared to Steve Jobs. They chose Thomas Edison and his invention of the phonograph, motion picture camera and the light bulb, and highlighted the “unimaginable” amount of jobs created by these innovations. It was pointed out that when the economy was tanking after 9/11, Apple computer was surging in growth and revenues around Jobs’ creation of the iPod. He disrupted markets by changing the way people could purchase music, and continued to re-imagine mobile devices with the iPhone. He went on to create new electronic consumer product markets with the iPad, disrupting the PC marketplace – no small achievement through his unrelenting creative and innovative passions .
The Jobs and Jobs WSJ article shares this reality: “At the risk of dragging Washington into the thoughts on the legacy of Steve Jobs*, let it also be noted that President Obama spent the better part of his hour-long news conference yesterday moaning about Washington’s ‘failure’ to bring his job-creation bill to life. The bill’s details aside, it is hard not to notice the differing results of the Washington model of creating jobs and the Jobs model of creating jobs. Perhaps Washington should think different.”
*It should be noted that Steve Jobs made Apple the most valuable company in the world without any help from Washington DC. He regularly turned down invitations by various officials in Washington, choosing instead to spend his time thinking about the next big thing that Apple should be producing.
Let us know your thoughts on the best way to get America back to work.