economics lingo ?

[Lance Murdoch]

Whenever I read monetaristic-minded people write articles about the wealthy, they talk about what capitalists, or investors do.  They "create jobs".  A lot of emphasis is put on the idea that they risk their capital as well.  In fact, you can see Martin Regalia of the US chamber of commerce beat these drums on this years Labor Day show on the PBS News Hour ( http://www.pbs.org/newshour/bb/economy/july-dec02/jobs_9-2.html ).  From this point of view the bourgeoisie are performing a very important function in society.

What is the response to the sort of thing Regalia is saying?  I hear it all of the time.  "The rich create jobs, and they risk their money on investments and deserve to be rewarded when right".  That encapsulates in one sentence a standard two-headed argument (perhaps there may be another head I'm forgetting).  Is there a one sentence reply to this that is common sense?  Has anyone written any counterpoints to the type of things Regalia said in his interview?

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