We've all heard the dismal unemployment statistics--10% in the US and nearing 20% in Europe. The outlook is even worse for people our age.
This article suggests that policymakers may have been approaching the problem from the wrong angle all along; instead of saving yesterday's jobs, perhaps the goal should be to create tomorrow's. What does this mean? Entrepreneurship, innovation, and venture capital.
Entrepreneurship has been a key to growth in both America and around the world. In many of these cases, from Silicon Valley to Israel, government intervention has played an important role. However, many problems can result. Two common ones are the temptation to spread the wealth around to everyone and a suspicion of foreign investors.
This shift in focus could mean an increase in entrepreneurship opportunities for our generation. It certainly beats unemployment!
3 comments:
I agree with the author of this article. It is true that the government tries to safe current jobs too hard, and it completely forgets the fact that tomorrow’s jobs need to be created too. It is also true that the government cannot just let companies fail, but it should encourage entrepreneurship more intensively. One of the ways to do that is to sponsor more greencards, because there are many Chinese and Indian workers that have great innovative ideas, but they cannot implement them due to their visa status.
Great article - I agree with Max said earlier in his post. I don't think that the government can just let companies fail, but it should be encouraging more and more entrepreneurship not only in the United States, but globally as well. For example, innovation start-ups are efficient engines of job creation and long-term economic growth. In the US itself, start-ups have accounted for almost all the net job creation in the past couple of decades, which shows the true power of entrepreneurship in the country.
I found this article very interesting! It is good to know that some people are turning towards the future, and realizing if they want the economy to succeed they are going to need to create jobs to make that happen. I was especially interested in the discussion of innovation and entrepreneurship and the role of the government in stimulating it, because it coincides very closely with the book I've chosen for my book review - they focus on the vitality of innovation in economic growth.
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