More Innovation, More Jobs

Thomas Friedman's piece yesterday made good points about the need for more start-ups to create jobs for recent grads. Friedman writes:

We owe our young people something better — and the solution is not that complicated, although it is amazing how little it is discussed in the Washington policy debates. We need three things: start-ups, start-ups and more start-ups.

Good jobs — in bulk — don’t come from government. They come from risk-takers starting businesses — businesses that make people’s lives healthier, more productive, more comfortable or more entertained, with services and products that can be sold around the world. You can’t be for jobs and against business.

However, I'd also add to what Friedman says (or maybe highlight what he's trying to say, but doesn't do so explicitly) by noting that start-ups don't necessarily need to be created by older people to give grads jobs. Policies should be put in place to encourage new companies and colleges, universities and career services offices should be helping young people to develop businesses of their own. Many great companies were created by people in graduate (or even undergraduate) programs and this is exactly the kind of innovation we should be encouraging.