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Study: Mom-and-Pops a Drain on the Economy
President Obama recently scarfed a ?super sub? to show his support for mom-and-pop businesses, crediting the little guy with the majority of U.S. job growth. Every modern president has done the same. There?s just one problem: it isn?t true, according to a new study published by the National Bureau of Economic Research. The work?the first to track employment by age and size of the hiring company?found that small, mature firms (those with fewer than 500 employees and at least 10 years in operation) are actually net drags on job growth. On average, between 1992 and 2005, they destroyed more salaries than they created. In 2005, for example, small businesses lost about a million jobs, even as the overall economy expanded by about 2.5 million. Startups accounted for nearly all the growth.
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How Marine Le Pen Is Changing French Politics
Marine Le Pen is moving her father?s rabble-rousing, far-right party away from the fringe, and redefining French politics in the process.
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Zakaria: Why America Overreacted to 9/11
It?s clear we overreacted to 9/11.
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Iowa Looks to Retirees to Coordinate Guard Efforts
In an effort to be safe at home, flood-prone Iowa has an unlikely salve when it comes to deploying their National Guard troops overseas.
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Pakistan Is the World's Most Dangerous Country
Three years after NEWSWEEK published its controversial cover naming Pakistan the world?s most dangerous nation, it seems to be even worse off.
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