Wall Street inefficient AND decreasing U.S. pool of entrepreneurs

Here is yet another reason why Wall Street is evil and a drain on the real U.S. economy:

"The problem is that when you've got 20 to 30 percent of some of the top talent in this country going into a sector that is not necessarily contributing to economic and social productivity."

The financial industry represented only 2.8 percent of U.S. GDP in 1950 -- and it represents 8.4 percent today, its highest share ever, even compared to 2006 (before the financial crisis). In the U.S., "the financial sector has become steadily less efficient." One economist argues that finance should be only about 6 percent of the U.S. economy.

Stopping The 'Brain Drain' Of The U.S. Economy

February 5, 2012 | NPR

URL: http://n.pr/Av2wA8

Entrepreneurship thriving... in liberal states

The latest State Entrepreneurship Index published by the University of Nebraska-Lincoln is out, and guess what?

Coastal liberal Blue States are the most entrepreneur-friendly, while "freedom-loving," Southern, Tea Partying states fare the worst.

Gee, I wonder what that means?... I guess I'll have to wait for CATO to 'splain it to me.

The 5 Best And Worst States For Entrepreneurs

By Janean Chun

September 1, 2011 | Huffington Post

URL: http://www.huffingtonpost.com/2011/09/01/5-best-and-worst-states-for-entrepreneurship_n_943415.html

Guaranteed health care will unlock entrepreneurship

Conservatives often warn that Obamacare will hurt small business. But they forget that the small-business owner needs healthcare, too!

Before Obamacare and its tax credits for small business, many small businesses with only a few employees could not afford to buy health insurance.

But what about businesses still in the go/no-go stage? Indeed, the prospect of losing one's health insurance keeps would-be entrepreneurs -- especially those with families, or who would like to have children -- locked into corporate jobs instead of taking the risk to start up a new business.

(Meanwhile, FOX Business's answer to health costs is barter.)

As I've noted before, guaranteed, affordable health coverage for every American will take some of the personal fear and financial risk out of starting up a new business venture.

New Healthcare Rules Could Unlock Entrepreneurship

By John Arensmeyer, Founder and CEO, Small Business Majority

June 2, 2011 | Huffington Post

URL: http://www.huffingtonpost.com/john-arensmeyer/new-healthcare-regs-unloc_b_870245.html