There is much wisdom in this post.
…capitalism’s primary function is not to generate an endless stream of jobs, even if this is one of the beneficial byproducts.
One only wishes we could apply the same lesson to government. Government’s primary job is to defend life, liberty, and property rights. If it restricts itself to these functions, there may be a stream of new jobs. But as with private equity, it is one of the beneficial side effects, not its primary function.