4 ms·
Well put. Job creation as a goal is sort of like when public company CEO's have revenue as a goal. Look, if all you want is revenue, that's easy - we can buy co
by bedhead 11y ago
Well put. Job creation as a goal is sort of like when public company CEO's have revenue as a goal. Look, if all you want is revenue, that's easy - we can buy companies, underprice business, do all sorts of uneconomic stuff, etc. Same goes for jobs...if all you want is someone working, we can do that pretty easily. While I understand the noble impulse to target job creation, unfortunately it leads to a lot of incentive misalignment. The real goal is creating value, or wealth.
- zmmmmm 11y ago> The real goal is creating value, or wealth By itself that isn't sufficient though. The distribution of wealth is important. If you create more wealth by allocating it all to one individual and none to anybody else then that is not superior to creating a bit less total but having the median wealth across individuals be higher.