The Myth: Jobs = Growth The talking heads love to say that if people are working, they’re spending. If they’re spending, that must mean growth. Right? Wrong. Just having people employed doesn’t create real wealth. If that were true, we could just hire a million people to dig holes and fill them back in. Boom—economic utopia! But that’s nonsense. What Actually Grows the Economy? Savings and real investment. When people save money instead of spending it all, those savings can be used to build tools, factories, and infrastructure. This makes future production more efficient, which means more real stuff gets made, and more wealth gets created. A guy named Crusoe building a house takes 250 hours with no tools. But…
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