Ronald Bailey on Who Built Your Business

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That government which governs least governs best

“If you’ve got a businessâ€"you didn’t build that. Somebody else made that happen,” declared President Barack Obama at a campaign stop last week in Virginia. Apparently, the president believes that economic growth and job creation is largely the result of actions taken by benevolent government agencies guided by selfless and wise federal and state bureaucrats. Reason Science Correspondent Ronald Bailey explains that while it is certainly the case that good governance is essential, it is entrepreneurs engaging in voluntary cooperation coordinated through competition in free markets that actually creates wealth and jobs.