More than one economist is worried that America's entrepreneurial culture is dying -- statistics and other indicators here, including some damning differences in the creation of "start-up" jobs between the United States administered by Barack Obama and that of his predecessors.
There is an argument over the causes and consequences. From the linked post:
Hudson’s possible suspects for the slowdown: a) higher business taxes, b) Obamacare, c) an IRS crackdown on US employers that hire U.S. workers as independent contractors rather than employees, and d) a steady barrier erected to entrepreneurs at the local policy level. But whatever the cause of the entrepreneurial decline, two possible impacts: 1) A less productive and innovative economy, and 2) higher profits for big business thanks to fewer upstart competitors on the horizon.The consequences seem probable to the point of being obvious, to which we would add a poorer future for our posterity and less opportunity and joy from the innovations to come (cue Brad Paisley). To the Hudson Institute's list of causes, however, we would add several more:
All is not lost. Cultural change does not happen in just a few years. We can recover our inner animal spirits we start celebrating enterprise, and elect politicians who understand that they cannot live their redistributionist dreams if they also do not care for the golden goose. This is something that Bill Clinton understood, and Barack Obama manifestly does not.