North Carolina's Incredible Job Destruction Machine
Laurie Thomas Vass
The Private Capital Market
May 1, 2009
Civitas Review, Vol. 5, Issue 2, May 2009
Jobs in North Carolina are created by small businesses and are destroyed by large corporations, when they offshore production. The rate of job creation in small businesses in North Carolina is not great enough to overcome the loss of jobs being destroyed.
The only solution to economic stagnation in North Carolina is increased business investment in small companies that continually create new products and adapt to industry.
The jobs recruited to the state are generally unstable, and contribute little to no long-term economic vitality to the state's economy. The companies that locate in North Carolina have very little allegiance or loyalty to the citizens of the state. When they leave, they leave very little of lasting economic benefit.
North Carolina political elites should not engage in the false pride of imagining themselves as a progressive plutocracy The enduring low wages and the incredible job destruction machine in North Carolina are the deliberate and thoughtful outcome of a very powerful southern corporate plantation.
Number of Pages in PDF File: 5
Keywords: north carolina industrial recruitment, job creation, job destruction
JEL Classification: l11, O30
Date posted: May 13, 2009