Steven Pearlstein at Washington Post: One of the most enduring lies in American politics is the myth of small-business job creation


You probably know it by heart: Small businesses create 60, 70, even 80 percent of all the new jobs in the United States.

Back in the 1980s, I was a senior editor at Inc. magazine, where I worked on some of the articles in which some of the seeds of this myth were planted. Up to that point, there was a widespread tendency to conflate the success of the economy with the fortunes of big business, so it was rather useful to have some data highlighting the importance of small firms.

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