Jeff  Carter

Labor Day is stupid.

A national celebration of Big Labor. Big Labor slows down economic innovation. It holds people and companies back. In a modern society, big labor unions really have no place. Big Labor pollutes our politics. It’s central planning. Some have proposed a Creator’s Day. Big massive companies can do the same thing as unions. Think ATT and Comcast want to see a lot of innovation in broadband? Think again. Instead of calling today Labor Day, I’d call it Innovators Day.

Despite unions and corporations that lobby to regulate the crap out of us, America is the most innovative society on the planet. No organized society in human history has been as creative as America. Ever. The most disruptive industrial discoveries, science discoveries, and even, yes, even innovations in capital markets were all imagined and perfected in America.

But lately, our society doesn’t hold up the innovators. It tries to tear them down.

Innovators take risk. If they are successful, they are remunerated for taking that risk. They get rich. If you ask most of them, they didn’t do it for the money. The money was a byproduct of what they did. Most of the time, they tried to solve a problem. If they did it elegantly and executed the business properly, a large market rewarded them with big cash. What they do with that cash is their business, not ours.

All innovation isn’t necessarily groundbreaking. Home Depot ($HD) was innovative. But there were competitors like Home Depot that failed. Home Depot is just a big mom and pop hardware store. It exploited a niche market. The execution of the business on the scale they did it was groundbreaking and lead to similar innovation in other niche markets.

Jeff Carter

Jeffrey Carter is an independent speculator. He has been trading since 1988. His blog site, Points and Figures was named by Minyanville as one of The 20 Most Influential Blogs in Financial Media.