A 1961 Reader’s Digest piece called it “America’s shame on the South Seas.” American Samoa remains relatively impoverished compared to the rest of the United States to which it is attached. Recent efforts to invigorate its economy offer a lesson in government planning and unintended consequences that those who seek to help the poor would [...]
Tag: "economic empowerment"
We have all been trained up to the belief that jobs are something in the gift of great corporations or government bureaucracies. True, there are still places in the economy for the small businessman or woman, the sole practitioner, the craftsman, or the small farmer. But in general, we regard the capital requirements of job [...]
If necessity is the mother of invention, then there is nothing worse than quenching the entrepreneurial spirit of people seeking to improve their situation by imposing arbitrary third-party constraints. America’s unemployment problems linger because hustlers cannot hustle. For many, “hustling” connotes business activity that is shady, or even illegal. But in the black community it is [...]