|The trick to using the “Jobs” card is to totally over inflate the size of your industry and the number of employees it has. It’s quite a compelling argument, and sometimes it’s true. But I’ve seen many cases where a regulation creates new jobs and economic development.|
A great recent example of the 7 of Hearts was occurred in the debate surrounding adoption of the federal Do-Not-Call Telemarketing Registry. The telemarketing industry claimed that they employed 6 million Americans, and had $668 billion in sales. But the economic census showed that telemarketing only accounted for 500,000 jobs and $8 billion in sales. A closer look at the numbers showed that the telemarketing industry’s figures were grossly inflated–they included both in-bound telemarketing (like when you call Delta to buy a $2k ticket), and telemarketing sales among huge businesses (like when Delta calls Boeing to order a plane) in the $668 billion figure. Neither of these types of sales are affected by Do-Not-Call legislation.