Just as the last economic boom was fueled by entrepreneurs, so too does it seem that this recovery is being lead by the same crowd. The Wall Street Journal reports that the self-employed are leading this latest economic cycle.
The public policy implications of this are striking. Over 400,000 Americans just in this past year said “no” to relying on government hand-outs and “yes” to finding a way to making it on their own. Many of these new businesses will grow and begin to hire others. This is how free enterprise builds great economies. Just as the last economic boom started by Bush I was built by such entrepreneurs, so will the economic boom started by Bush II and his tax cuts.