Thursday, December 15th, 2011

People Buy Things, You Get Rich

"We do not need to further incentivize entrepreneurs and investors to start companies–they already have plenty of incentives to do so… It is silly to think that "entrepreneurs and investors" create the jobs in our economy. Entrepreneurs and investors start and fund companies, which is important. But what actually creates self-sustaining jobs and a growing economy is customers who want and can pay for companies' products and services. Without these customers, there's no job creation."
Hee! Henry Blodget writing this morning on how bazillionaires aren't actually the engine of the economy is already attracting the hate-comments.

13 Comments / Post A Comment

dado (#102)

In other news, egg claims primacy.

stuffisthings (#1,352)

You and Balk need to coordinate better on your economic coverage: clearly what the economy REALLY needs is more dead bears.

jfruh (#713)

Are we still allowed to hate Henry Blodgett for his various dot-com boom crimes though?

dntsqzthchrmn (#2,893)

@jfruh That depends, does he refer to anyone/thing as a "POS" this time around?

barnhouse (#1,326)

@jfruh at least he got busted for 'em, which is more than you can say for a great many of those Wall Street hucksters.

barnhouse (#1,326)

It is really startling, the evolution of ye Blodget. And those comments! Good gravy what a load of poltroons. "Jobs are created and sustained by capitalism and individual freedom", no seriously, one of the commenters literally I swear to god.

Spiker Tab (#180,514)

@barnhouse Is there some exception to Godwin's Law if a participant uses the name of an actual Nazi as his commenting alias? Because there's a guy over there commenting as "Lord Haw Haw" and I would like to call him a Nazi.

Bittersweet (#765)

@barnhouse: I thought they were created by the Magic Job Fairy, who is only enticed out of hiding at the end of every business cycle by burning sage and old appropriations bills in front of the bull statue in Lower Manhattan.

christoball (#4,670)

I'm glad you used Bill Gates as the photo.

Microsoft is the ultimate foil to the argument of the free market the best product reaping the most rewards. Not even in an 'Apple v. Windows' mindset, Windows has always been to me a middling, piece-of-crap OS. Yet somehow it's earned gajillions of dollars. At least we're getting it back in the form of outsized influence over our public schools…right?

dntsqzthchrmn (#2,893)

It was a free market to be the first one there?

deepomega (#1,720)

@christoball Christ, what an ahistorical comment. Were you even alive in 1995?

stuffisthings (#1,352)

@christoball Would it be better if we lived in a world where the OS market was split between dozens and dozens of really, really great operating systems (that were not compatible with each other)?

By the way, it's ludicrous that anyone on the right OR left thinks the benefit of the free market is supposed to be that "the best product always wins." I don't know of any serious economist who would ever say that.

SidAndFinancy (#4,328)

But what about the Wozniak creators?

Post a Comment