The Importance of Entrepreneurial Innovation

 

The U.S. in the midst of the most entrepreneurial era in its history, with more than 500,000 Americans involved in launching their own companies each year and an estimated 10% to 15% of all working adults engaged in some kind of entrepreneurial activity. And among these entrepreneurs, it is the innovators who matter most.

Their enterprises are the ones which create the jobs and industries of the future — as they have lifted the economy’s productivity in the past. The automobile, the airplane, the telephone, air conditioning, the personal computer and its software, and Internet search engines — all were launched by innovative entrepreneurs rather than large companies.  

 

For the full commentary, see: 

ROBERT E. LITAN.  "Innovators Matter Most."  The Wall Street Journal  (Sat., February 24, 2007):   A8. 

 

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