You may have heard politicians promising to “create jobs.” It sounds great, doesn’t it? We don’t have enough jobs, so these nice people are going to make some new ones for us.
They don’t mean they’ll hire us themselves, of course. They’ll make some changes to the budget and the tax code and then other people will hire us. That’s the idea.
Sometimes it works and sometimes it doesn’t.
Economies are complicated. If you could create a job the same way you can create a pizza or a building or a work of art — by following a recipe or a blueprint or a muse — every president would do it all the time. There would be no recessions. We’d argue less.