Sustaining Entrepreneurial Capitalism

William J. Baumol, Robert E. Litan, Carl J Schramm

Research output: Contribution to journalArticle

Abstract

The conventional wisdom is that the surge in productivity growth which has surged in the United States over the past 15 years has been attributed almost wholly to advances in the production and use of information technology. While this is certainly evident from the statistics, a driving force behind the IT revolution has been the development and growth of new firms. Indeed, the U.S. economy has achieved a remarkable transformation over the last several decades from an economy characterized by large, bureaucratic firms into one increasingly powered by entrepreneurial innovation. The challenge ahead therefore is to cement and strengthen the entrepreneurial form of capitalism. In this paper, we provide a framework for policymaking to achieve this objective. Comments on this paper can be found at: <a href="http://ssrn.com/abstract=2206555"> http://ssrn.com/abstract=2206555</a>
Original languageEnglish (US)
JournalCapitalism and Society, Vol. 2, Issue 2, Article 1, 2007
StatePublished - Jan 24 2013

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