Big is Beautiful: debunking the myth of small business, by Robert D. Atkinson and Michael Lind
It is a common sentiment: “Small businesses are the engine of job creation and innovation.” A host of policies have accordingly been designed to assist small firms, ranging from credit allocation efforts to size-based environmental regulations. But the sentiment is inaccurate; the job creation and innovation patterns of small businesses are, at best, more complicated than the conventional wisdom would suggest. Economists have articulated a more nuanced view in academic journals for years. In Big is Beautiful, Robert D. Atkinson and Michael Lind abandon academic nuances firmly to take the opposite position: Big business is the source of growth and innovation, and policy should be reformed accordingly.
The book’s timing is felicitous: Parts of the economics profession and its observers have recently become more intensely concerned about rising concentration of the U.S. economic activity within just a few mega firms. In 2016, the White House Council of Economic Advisers (CEA) released a...
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