For all its current economic woes,” the Economist
magazine recently asserted, “America remains a beacon of
entrepreneurialism.” That idea is at the heart of America’s self-image.
Both parties celebrate entrepreneurial small business as the fount of
innovation and growth. Even if America no longer manufactures its own
smartphones or computers, we cling to the idea that American
entrepreneurs invent most of the new products and services that matter
to the world.
Americans also view entrepreneurialism as a vital route to upward mobility—a way for average people to build wealth, in the form of a business venture that can be passed on to one’s children or sold upon retirement. Whether it’s the family farm or the local diner, small businesses have traditionally provided citizens not only with income but also with a place to teach kids the value of responsibility and hard work.
Then there’s the role entrepreneurs play in creating jobs. One recent study by the Small Business Administration (SBA) showed that businesses with fewer than twenty employees were responsible for more than 97 percent of all new jobs between 1988 and 2004.
More broadly, Americans have traditionally seen entrepreneurship as a crucial measure of the nation’s political vibrancy and liberty. We hold that the more independent citizens we have, the more widely power, responsibility, and voice will be distributed, and hence the stronger our democracy will be. The basic thinking here was best expressed by James Madison more than 200 years ago, when he wrote that the “greater the proportion” of citizens who are their own masters, “the more free, the more independent, and the more happy must be society itself.”
Read more: http://www.washingtonmonthly.com/magazine/julyaugust_2012/features/the_slowmotion_collapse_of_ame038414.php
Americans also view entrepreneurialism as a vital route to upward mobility—a way for average people to build wealth, in the form of a business venture that can be passed on to one’s children or sold upon retirement. Whether it’s the family farm or the local diner, small businesses have traditionally provided citizens not only with income but also with a place to teach kids the value of responsibility and hard work.
Then there’s the role entrepreneurs play in creating jobs. One recent study by the Small Business Administration (SBA) showed that businesses with fewer than twenty employees were responsible for more than 97 percent of all new jobs between 1988 and 2004.
More broadly, Americans have traditionally seen entrepreneurship as a crucial measure of the nation’s political vibrancy and liberty. We hold that the more independent citizens we have, the more widely power, responsibility, and voice will be distributed, and hence the stronger our democracy will be. The basic thinking here was best expressed by James Madison more than 200 years ago, when he wrote that the “greater the proportion” of citizens who are their own masters, “the more free, the more independent, and the more happy must be society itself.”
Read more: http://www.washingtonmonthly.com/magazine/julyaugust_2012/features/the_slowmotion_collapse_of_ame038414.php
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