Thomas Friedman has refrained from discussing economics in his columns for some time and the world was happy. But, now he's back with a vengeance. He begins his column with today's "fun fact":
"Between 1980 and 2005, virtually all net new jobs created in the U.S. were created by firms that were 5 years old or less, .... That is about 40 million jobs. That means the established firms created no new net jobs during that period.”
The rest of the column is devoting to touting the importance of new firms, which Friedman tells us are started disproportionately by high IQ foreigners. He therefore emphasizes the need to have a more open door for high IQ immigrants.