Ed Glaeser on Job Creation
By Arnold Kling
In every year since 1989, new companies have created more net jobs than the economy as a whole, which means that older companies are, on average, destroying more jobs than they create. In 2009, the latest year for which we have data, new businesses created 2.33 million jobs, while older businesses destroyed, on net, more than 7 million jobs.
Thanks to Phil Izzo for the pointer.