Part 11: of a 28-part series
Absolutely were the richest nation, because of individual enterprise — not because of the nasty corporations. They make up only 20% of our economy. The reason [for this] statistically is that middle-class workers [are] hired by small businesses and work for small enterprise its simply a family trying to take care of itself. And lo and behold, as a family endeavors to take care of its own needs and its own supply, and provide for itself, it blesses others inadvertently, without even intending to, because its a natural prosperity that comes from his own productivity. There is no prosperity without productivity. If you take away productivity, you have nothing to spread around.
So what encourages productivity? You know, we have middle-class workers thats the largest number [of our population]. But they are workers that means theyre hired by someone. And 75% of this class of workers is hired by small businessmen and women. Thats phenomenal.
Americans have always believed they live in the land of opportunity, where anybody who has a good idea anybody (thats the worth of the individual) determination, and the willingness to work hard, can start a business and be prosperous, because theyre willing to be productive and work. In practice, this belief in entrepreneurship has taken many forms.
To be continued…