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No business can be successful (and create jobs) without a healthy middle class buying their products (Reuters)
It's an article of faith among the Right that jobs are created by the wealthy. But really, how successful would've Steve Jobs been had no one bought his computers and iPods?

Nick Hanauer, a wildly successful tech entrepreneur, states what should be obvious:

I can start a business based on a great idea, and initially hire dozens or hundreds of people. But if no one can afford to buy what I have to sell, my business will soon fail and all those jobs will evaporate.

That’s why I can say with confidence that rich people don’t create jobs, nor do businesses, large or small. What does lead to more employment is the feedback loop between customers and businesses. And only consumers can set in motion a virtuous cycle that allows companies to survive and thrive and business owners to hire. An ordinary middle-class consumer is far more of a job creator than I ever have been or ever will be.

That doesn't mean that entrepreneours are worthless pieces of shit. Obviously, they must exist to start companies and generate ideas. But they're only part of the puzzle. Daily Kos wouldn't exist without me. But Daily Kos also wouldn't exist without you. Why should one piece of that puzzle be valued higher than the other?

It is unquestionably true that without entrepreneurs and investors, you can’t have a dynamic and growing capitalist economy. But it’s equally true that without consumers, you can’t have entrepreneurs and investors. And the more we have happy customers with lots of disposable income, the better our businesses will do.

Republicans are hell-bent on destroying the middle class in pursuit of greater wealth for the one percent. The flaw in their thinking is—what happens when there's no one left to buy their products?

Originally posted to kos on Thu Dec 01, 2011 at 09:56 AM PST.

Also republished by Daily Kos.

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