Acton Institute Powerblog

Why Our Struggling Economy Needs More Entrepreneurship

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Harvard economics professor Edward Glaeser explains why entrepreneurs are important for our struggling economy:

In every year since 1989, new companies have created more net jobs than the economy as a whole, which means that older companies are, on average, destroying more jobs than they create. In 2009, the latest year for which we have data, new businesses created 2.33 million jobs, while older businesses destroyed, on net, more than 7 million jobs. The share of Americans working in startups has fallen to 2 percent in 2009 from 3.8 percent in 1979.

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My own mantra is that the best way to encourage local entrepreneurship is to attract and train smart people and then get out of their way.

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Joe Carter Joe Carter is a Senior Editor at the Acton Institute. Joe also serves as an editor at the The Gospel Coalition, a communications specialist for the Ethics and Religious Liberty Commission of the Southern Baptist Convention, and as an adjunct professor of journalism at Patrick Henry College. He is the editor of the NIV Lifehacks Bible and co-author of How to Argue like Jesus: Learning Persuasion from History's Greatest Communicator (Crossway).

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