One of the challenges the 99 Percent face is that it is increasingly difficult for Americans to start their own businesses and prosper in the economy. Sociological Images points out today that the United States now ranks a paltry 23rd in the rate of “start-ups per working-age population,” as it points out in the following chart:
There can be any number of explanations why the density of start-ups is higher in the countries ranked above the United States. James Wimberly notes that the countries ranked above ours have “stronger, more comprehensive, and more centralised social safety nets, along with correspondingly higher taxation.”
Indeed, with a safety net — including universal comprehensive health care coverage, which almost every nation ranked above the U.S. possesses — allows entrepreneurs to engage in more risk-taking behavior without the risk of losing many of the basic needs of life. One way to reinvigorate the economic futures of America’s 99 Percent would be to strengthen and expand the social safety net.