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Email Henry Platt
Email L. Henry Platt, Jr.
  Henry Platt


Let's look to find where jobs come from. In 1950 the largest corporations in the United States included AT&T, GM, DuPont, and the Pennsylvania Railroad. So, what has happened to them?

AT&T was broken up by the government, and one small part still operated as a telephone company. This dwarf was purchased by a larger, growing company, SBC; and then the new owner took the name of the former giant.

GM at one time was the largest corporation on the face of the earth. Unfortunately, union contracts, exploding healthcare costs, and the gentrification of is retirees forced GM into bankruptcy. The shame is in the terms if that bankruptcy. The company known as GM today is a different outfit largely owned by Uncle Sam.

E. I. DuPont is still a strong and profitable company protected by the state of Delaware, its home and the home of Vice President Biden.

The Pennsylvania Railroad lost much of its business as its taxes were used to build the great interstate highway system that carries the freight it used to carry. It merged with the great New York Central System, but the government in several forms took over as Amtrak, CSX, the Providence and Worcester, Metro North, and many more.

In 1950 there was no ENRON, no Microsoft, no Comcast, no Sprint, no Disneyland, nor any State of Hawaii. All of these things came after Harry Truman was elected President. President Truman reduced the National Debt more than any other President either before or since.

Every economics student remembers that the greatest number of jobs are created by small companies and entrepreneurs. The enemy of small businesses and entrepreneurs is the true bureaucrat who sees his goal in life as an expanding bureaucracy. I have heard that the Obama Administration has doubled the amount of reports each dairy farmer must file with various parts and offices of government each month. I cannot see any possibility of increased milk production as a result of this situation.

So, the solution to the problem is to reduce bureaucracy - not to expand it. I once worked with a man named Cordero. I observed that some management decisions were analogous to putting two men into the sulky to whip the horse instead of two horses in harness to pull one man. As I see it, Obamacare will reduce the number of medical staff, but will double the bureaucracy.


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© L. Henry Platt, Jr.