So, small businesses are a continuing source of dynamism for the American economy. They produced three-fourths of the economys new jobs between 1990 and 1995. So we can see how important the small business is. Again, individual enterprise is not capitalism. Its not corporate profits that were looking for, but [rather] the productivity of the small businessman.
Theres versatility in small businesses. Theyre able to respond quickly to changing economic conditions. They know their customers personally, and are especially suited to meet local needs a very important word, local needs. The sphere of operation is local.
Theyre a source of technical innovation. We know about Microsoft. It began in a college dorm room. Gates was in college and he realized he didnt need it anymore, because he had Microsoft. And Federal Express same thing. Nike. Ben & Jerrys began in their garage, in their kitchens, in their own homes. Thats individual enterprise. That is evidence of the independent worth of the individual.
From what comes out of one business, you can hire 75 or 100 workers. The importance of one. And you cant punish that. Every one of us knows that our economy is changing more and more. Its being driven by small business and entrepreneurial activity. This has been a wonderful window and doorway for women to enter the marketplace, because of individual enterprise. The internet will show you that. EBay will show you that. All of these opportunities — because we recognize what one can produce.
The nature of employment is changing dramatically, seen by a huge shift towards self-employment more people who are enterprising, contracting, and consulting. This is a very current [trend]. So, this is the idea of the progress we are making about the natural equality of all in society not just the few. And thats manifested economically.
We are different because our government and way of life are not based on the divine right of kings, which means one man is above the law. [Nor are they based on] the hereditary privileges of the elite or the deference to dictators. They are based on pieces of paper. Really, our nation hangs on two pieces of paper: the Declaration of Independence and the Constitution of the United States (and [some would add] the Bill of Rights) that established our liberties. Thats all that regulate our lives these documents.
We are different because our government and way of life are not based on the divine right of kings, which means one man is above the law. [Nor are they based on] the hereditary privileges of the elite or the deference to dictators. They are based on pieces of paper. Really, our nation hangs on two pieces of paper: the Declaration of Independence and the Constitution of the United States (and [some would add] the Bill of Rights) that established our liberties. Thats all that regulate our lives these documents.
To be continued…
