Davos elites fresh out of job creation ideas
Western political leaders are quick to rely on business leaders to solve today’s job creation problems, mainly because lobbyists have promoted the idea that CEOs were best suited for the job. But a business’ primary function is to generate profits, not to maintain the welfare of a nation and its people. And if given an opportunity to create public programs related to job creation, a business leader will focus on his bottom line over the public good. A panel of business leaders at this year’s World Economic Forum reached the same conclusion as they addressed the matter of how to simultaneously improve job growth while maintaining efficiency standards.
“This is a group that understands wealth creation better than job creation,” said one panelist. “There are inherent limits” to the number of people employed in various sectors. In other words, the unemployed will remain so unless they are willing to take whatever low-paying manual labor job thrown their way because it is inefficient – read crazy – for businesses to use an economic model that will create a win for the public if it might simultaneously trigger less profit for businesses.
The sentiments expressed at Davos are a clarion call for governments to take charge of job creation, for innovation alone does not trigger job growth.