Dr. John Psarouthakis, Founder and former CEO, JPIndusries,Inc., a Fortune 500 industrial corporation. . Currently, Distiguished Visiting Fellow / Professor, University of Edinburgh, Scotland. He is the Executive Editor of www.BusinessThinker.com
Unemployment is still very high, 8.2%. If we include the underemployed and those that have given up looking for employment the level is close to 12% levels.
This situation could create a threat to our country’s social inclusivity and stability.
That is why the number one priority of our investors, businesses, entrepreneurs, and politicians is to tell us how they can create employment opportunities and politicians should tell us of the policies they have in mind. They must tell us specific details and not just broad demagogic statements
There are several sectors and opportunities that the country could take good advantage of, provided the government does not suffocate initiative with thousands of pages of regulations and impedes investments through the uncertainty of undefined or scary tax policies.
What is also needed at the same time is for everyone to stand up and defend the job creating engine-the private sector- from political demagogues and their supporters.
Irrational behavior of extremists at both ends of the political spectrum are creating the atmosphere of uncertainty and punitive taxation that reduces the incentives for investments, creation of new enterprises, and long tern research and development. If this continues, capital will flow to more attractive global regions.
We should keep in mind that capital and technology flow essentially freely through national borders in today’s globalized world.
Dr. John Psarouthakis, Founder and former CEO, JPIndusries,Inc., a Fortune 500 industrial corporation. . Currently, Distiguished Visiting Fellow / Professor, University of Edinburgh, Scotland, Publisher of www.BusinessThinker.com