Huge Government, Big Business, Big Problems
Since the start of the Covid crisis, the American economy has actually been turned on its head. Times are good for the huge guys– Big Business and Big Government. But what about for the small business owner, the personification of the American dream?
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Script:
There was the Great Depression (1932-1940) ….
The Great Recession (2008-2009) …
And now the Great Consolidation, a historical transfer of wealth and power from the middle class to the already rich and well-connected..
Huge Government and Big Business are dismantling and reshaping the American economy. It works for them– they are larger, more powerful, and richer than ever– however it does not work for a lot of Americans..
This is particularly true for the engine of financial growth– the small company owner..
More than 30 million small companies represent about half the GDP and tasks in America; the other half of the economy is focused in around 20,000 huge business..
Based upon that almost equivalent split of financial value, you may anticipate that small businesses have the exact same clout as big businesses..
Not even close..
Huge corporations are masters of the political game. They have the cash to pay the lawyers, politicians, and lobbyists to get what they need. And, in turn, the government gets what it needs from Big Business– cooperation, compliance, and project contributions..
Small companies are on the sidelines of this game. Your local butcher, baker, and candlestick maker merely don’t have the money to make huge campaign contributions or employ lobbying teams..
Still, for all these downsides, the entrepreneurial spirit that has actually long specified America has actually never ever waned.
Then came Covid– or rather, the federal government response to Covid..
” Two weeks to slow the spread” became month after month of lockdowns and ever-shifting limitations that destroyed numerous countless small businesses and left millions more holding on by a thread.
Huge companies were deemed “vital” and permitted to stay open, while small businesses went through penalizing lockdown orders and forced to close, in part or in full. The hypocrisy provided by this government edict– Big Box open, Mom and Pop not– was obvious for all to see. These decisions were not based upon science however on political influence.
You might take Fido to PetSmart to have his hair groomed and his nails trimmed, however not take yourself to your preferred salon for a pedicure. How does that make sense?
Or how about this example.
In Los Angeles, the Pineapple Hill Saloon and Grill was forced to close its outdoor dining area– while a motion picture production hosted a catering camping tent serving food to its cast and crew in the same car park that the dining establishment had actually been required to abandon.
The results of this arrangement weren’t tough to forecast: spending that could not be done at small businesses was shifted to the ones that were open: industries.
In this environment small companies were “too little to prosper” not due to the fact that of anything they did however because the federal government wouldn’t permit them to serve their customers– all their work, cash, and dreams and hopes were squashed by government mandate..
It was the worst of times for the little guy. And the very best of times for the Big Guys: Big Business and Big Government..
As Big Government flexed its power with lockdowns and costs and the Federal Reserve pumped money into the markets, big businesses and their financiers did excellent. 7 innovation business alone acquired more than $3 trillion in worth and the most affluent became even wealthier..
Now, Big Business isn’t bad in its own right. Every huge service started as a small one. Industries produce products and services that add value to our lives. No one must begrudge them making millions or perhaps billions in revenue– that is, if it is done on merit. It is a big problem, though, when it is done through the government restricting and even closing down the competition– small business. That’s not free-market capitalism. That’s cronyism.
And there’s no proof that this trend– Big Government and Big Business getting bigger– is going to end anytime quickly..
Who’s going stop it?
Not Big Business. It always benefits from less competition.
For the complete transcript check out: https://www.prageru.com/video/big-government-big-business-big-problems.
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Times are good for the big guys– Big Business and Big Government. Huge firms were considered “important” and allowed to stay open, while little businesses were subjected to punishing lockdown orders and forced to close, in part or in full. Every huge company started as a small one. Big organizations produce products and services that include worth to our lives. It is a big problem, though, when it is done through the federal government restricting or even shutting down the competitors– little service.
