Our President graduated from Harvard Law School, but he might have profited (pun intended) from a few courses from Harvard Business School instead. Barack Obama offered a preview of his Chamber of Commerce speech in his Saturday radio address, only this time with a lecture about their “obligation” in business:
President Obama called on U.S. businesses to do more to help grow the economy, saying that while the unemployment rate is getting better and jobs are being added, the U.S. needs “to get there faster.”
“Businesses have a responsibility, too,” said Obama in his weekly address on Saturday. “If we make America the best place to do business, businesses should make their mark in America. They should set up shop here, and hire our workers, and pay decent wages, and invest in the future of this nation.That’s their obligation.”
JammieWearingFool instructs Obama on the role of business:
Actually, the obligation of business is to make as much profit for shareholders and to sell products people want. The purpose of business is not to “invest” in unproven technologies just so we can move toward some utopian “green” society.
Of course, one could point out to Obama that his rapid expansion of federal regulation on employee relations, investment, and environmental controls has hardly made America the “best place to do business,” so his initial premise fails on its face.
Also, the unemployment rate is getting better and jobs are being added, but that’s only as true as far as it can be taken literally. The unemployment rate is only getting better because of the evaporation of almost a million people from the workforce over the last three months and the lowest civilian participation rate in the workforce in a generation; over the last year, we’re not adding enough jobs per month to keep up with population growth, either.
The obligation of a President is to know these things. Maybe Obama should mind his own business first.
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