It is the free-market econmists like Sowell who truly the epitome of evil. I am so sick of people championing wealthy investors as "job creators" as if they are acting with one shred of concern for their fellow man. They are simply trying to make more for themselves - that's it. The argument by Sowell is why - more than ever - we need the US government to create government-owned, for-profit entities to [directly] create jobs while simultaneously earning profits that funnel to the treasury (and reduce the need for income taxation). Federal regulations (of which the government-owned enterprises [GOE's] would exempt) would give the GOE's enough of a competitive advantage to break into several marketplaces, and eventually replace the 1%.