Michael Lind defends big businesses:
It is true that 99 percent of American firms are defined as small businesses. But this is only because the federal government defines a small business as one with fewer than 500 employees. How many ordinary people think of a company with 499 employees as small?
According to Scott Shane, a leading expert on small business and entrepreneurship, medium-to-large businesses account for a disproportionate share of job creation in the U.S. Shane writes: "From 1992 through 2008, the 4 percent of small businesses that had 50 to 499 employees created 30 percent of all net jobs, whereas the 79 percent of small businesses with fewer than 10 employees created only 15 percent."
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