If jobs are the major hurdle to economic growth, and they are, what can we learn from the world’s largest employers on how to create more of them? First of all forget any idea that the public sector can’t create jobs, and start thinking of the best way for it to do so because governments create jobs. The world’s largest employer is the U.S. Department of Defense. China’s armed forces and its state utilities, the U.K.’s national health service, and India’s railway system are all major employers.
What’s the Big Idea?
Earlier this week, The Economist published a chart of the world’s largest employers and most of them succeeded by going global. Walmart and McDonald’s have grown because they have outposts around the globe, and Hon Hai Precision Industry (which makes everything from iPads to iPods to iPhones) succeeds because it manufactures for export around the world.