We would not have had the same innovation in the United States if laissez-faire capitalism hadn't been in place.
All you have to do is look at which states are losing businesses and why. California is losing businesses because the state of California is not business-friendly. The working-class citizens of California suffer because the elected officials care mostly about ideology and have given up on problem solving.
Comparing state's ability to draw business from each other doesn't work, here's why.
With the same argument you might support the move of the major US auto manufacturers to Mexico. In Mexico they don't have OSHA and the children of workers are being born with defects. There is no requirements to protect workers from toxic chemicals they deal with. The argument that NAFTA would bring down the price of cars didn't pan out either, the companies pocketed the money they saved in labor and a lack of environmental regulations.
US companies are still moving overseas, including some defense contractors. This same trend has turned Communist China into the new world super power and created for the US of the future it's greatest new enemy.
The point is the Great American Generation came back from WWII and built a nation where unions, retirement plans and employer supported health plans were the norm. We have watched that be whittled away to jobs where employees have no voice. Retirement is dependent upon 401K gambles. Health plans for employees became exceedingly scarce until Obama's health laws forced a change.
The shame is that many US corporations have shown about as much patriotism as Karl Marx. Having to force corporations to provide health benefits shows they care not about the American working class. That they substitute real retirement plans with 401Ks shows the same thing. Today's corporations need to be forced (regulated) to do the right thing.
The 2008 recession is a great example of lassaiz faire economics. A lot of people lost their retirements in a big scam that threatened our economy and therefore, our national security. Corporations need to be held accountable and on a leash, how tight is up to them.
Related "The Man Who Took My Job
" in the Rolling Stone