Big Business Is Good for America

By Gary Hufbauer and Martin Vieiro – Even though the Occupy Wall Street protests seem incoherent at times, one main theme is clear: anger at big business.

But this backlash is based on three common misconceptions about major U.S. corporations.

• first misconception is that Wall Street and big business are the same thing.
• second misconception confuses large corporations and millionaires.
• third common misconception has to do with the role of big business in innovation.

It is safe to say that without its major corporations the U.S. economy would not be, and would not remain, the largest and richest in the world. Big businesses invest significantly more in research and development than smaller firms. And they are far better placed to capture economies of scale and scope, which is crucial to making U.S. goods and services competitive abroad. Large companies account for more than 70 percent of U.S. exports. more> http://is.gd/vfv5Lu

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This entry was posted in Business, Economic development, Economy, Technology and tagged Big Business, Industrial economy, Jobs, Manufacturing, Occupy Wall Street, Organization, Small business, United States, Wall Street. Bookmark the permalink.

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