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Former Kauffman Foundation President Carl Schramm on why boosting entrepreneurship will help boost job creation.
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The president signing the jobs act into law last week but we have someone who says this isn't going to create jobs anytime soon but he's got four strategies he says.
Will Carl Schramm is the former Kauffman Foundation president he is joining us now.
Our let's get to these four strategies if not a jobs.
Plan -- opportunity -- all that's been done by the government in the past W could argue we've seen several million in job creation over the past couple of years.
What are the four things you feel would create jobs at a healthier pace.
Well is this was good in the jobs act in the sense that it sent a signal that there might be more money try -- -- and the focus has to be on entrepreneurs as you know.
That's where all the new jobs are created in the -- and businesses.
But if we thought about -- comprehensive jobs act.
We have another a couple of dimensions and there because we need new companies and to get them I would certainly change immigration.
Policy as regards hi tech entrepreneurs you get the name.
Second thing is you really get to town on regulatory reform particularly for brand new businesses.
You know businesses face regulation at every level particularly -- municipality level.
So changing this and my own view -- you relieve brand new businesses for the first few years from regulation he -- protect intellectual property better.
And change patent law and in my favorite these days is basically the idea how if someone starts a business as a college graduate.
And at the end of five years let's say they've they've employ ten people we create ten jobs -- -- in the student debt.
And you know in the best of worlds -- -- university give their -- back.
He also has a real signal that this is really important and -- -- -- -- -- say we need to bring skilled labor from other countries what you mean by that and but these jobs that Americans Condit talking H one B visas yes they are trying to be basis not Americans could -- we don't have enough Americans to do wanna talk about when is he doing.
It start new businesses so if we look for example it.
Venture funded businesses over the last twenty years almost half of them have been created by people who are -- American -- Think about entrepreneurs and about Google of course started by two foreign born possible and there are many many different ones that you could you could say but you know John Kerry this democratic senator from Massachusetts.
Joining with Richard Lugar to.
Put up the the start -- FISA act which would in essence do the same thing if you can prove that you have some investment.
You start a business that creates jobs you get a Green car but Carl.
We're in an atmosphere that's anti immigration right Harrison's it's not so much at the forefront of the election right now -- -- very well could sneak up there and be so.
How do you get the message to both Republicans and Democrats that immigration in the -- form.
Could really help create jobs.
Well I think it is -- jobs message on two fronts okay people who are coming in illegally.
Actually being employed that's the power of our economy.
And we have to solve that through legitimization of some sort let -- the focus I'm talking about is if you really want high paying jobs.
We gotta have more businesses you know you know I'm gonna be a conference -- tomorrow that's focused on 4% growth rates for the United States.
And think of it if you just put their challenging ourselves.
How could we move up to 4% we've been -- 3% for a hundred years.
Where would you go.
In the first surest cancer issued have more entrepreneurs creating more businesses you know -- -- because we didn't reported Jeff Flock to the story last week on.
Companies that was in China.
Movement ran into problems.
Intellectual property issues brought them back to the United States but it was already looking to go south to Mexico to take the jobs there because of the -- labor force.
Well I think that's the new economy -- people are collaborating the delta between.
The cost to labor in the balance of whether or not they can protect the intellectual property what the regulatory issues are.
In their constantly calculating and I think we're gonna watch the continuous migration from country to country -- once upon time -- -- -- bricks if great.
You don't know you know three years not could be an entirely for different countries that are essentially attract and welfare -- -- I mean Chinese -- getting more expensive -- -- and quality of US products is sometimes lot better.
But it is currency and I'll -- anything everything Carl Schramm coming up with ideas former Kauffman Foundation president.
