Venture capitalist tells us what we ought to already know...

... it's not the mission of business to create jobs.

http://www.npr.org/2011/10/04/141033128/venture-capitalist-cautions-against-job-creation-myths

He notes that jobs are one input to the business venture which, like all inputs, the owners want to minimize in order to maximize profits.

When the effect of new technology is to eliminate more jobs than it creates, is it time to look at a new approach? Socialism is a bankrupt theory. What about employee ownership? When we are told that the Great Recession permanently eliminated 2.5 million American jobs, the old solutions --- cut corporate taxes, educate more students, and wait for the magic to happen --- may be inadequate. Some creative people, smarter than me I hope, must have some better ideas... yes?