Start-Ups, Not Bailouts

Here’s my fun fact for the day, provided courtesy of Robert Litan, who directs research at the Kauffman Foundation, which specializes in promoting innovation in America: “Between 1980 and 2005, virtually all net new jobs created in the U.S. were created by firms that were 5 years old or less,” said Litan. “That is about 40 million jobs. That means the established firms created no new net jobs during that period.”

By THOMAS L. FRIEDMAN

Full Story: http://www.nytimes.com/2010/04/04/opinion/04friedman.html?scp=2&sq=friedman&st=cse