Sustaining Entrepreneurial Capitalism
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William J. Baumol
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.
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
Articles in the same Issue
- Article
- Sustaining Entrepreneurial Capitalism
- The Individual, the Market and the Division of Labor in Society
- Discussion and Commentary
- Comment on "Sustaining Entrepreneurial Capitalism" (by William J. Baumol, Robert E. Litan and Carl J. Schramm)
- Discussion of Axel Leijonhufvud's "The Individual, the Market and the Division of Labor in Society"
Articles in the same Issue
- Article
- Sustaining Entrepreneurial Capitalism
- The Individual, the Market and the Division of Labor in Society
- Discussion and Commentary
- Comment on "Sustaining Entrepreneurial Capitalism" (by William J. Baumol, Robert E. Litan and Carl J. Schramm)
- Discussion of Axel Leijonhufvud's "The Individual, the Market and the Division of Labor in Society"
