The Superstar Inventors and Entrepreneurs: How Were They Educated?
William J. Baumol
New York University - Stern School of Business, Berkley Center for Entrepreneurial Studies; Leonard N. Stern School of Business - Department of Economics
Melissa A. Schilling
New York University (NYU) - Department of Management and Organizational Behavior
Edward N. Wolff
New York University (NYU) - Department of Economics; National Bureau of Economic Research (NBER); Bard College - Levy Economics Institute
Journal of Economics & Management Strategy, Vol. 18, Issue 3, pp. 711-728, Fall 2009
Observations, such as the many celebrated inventive entrepreneurs with minimal schooling, lead to the hypothesis that protracted and rigorous education can impede entrepreneurship. Systematic analysis of biographies of noted inventors and entrepreneurs appears not to support the hypothesis. We do find that with time, entrepreneurial and inventor education increases as technology grows more complex. However, we find at the same time that the educational attainment of inventors has grown more rapidly than that of entrepreneurs and the educational gap has tended to widen over time.
Number of Pages in PDF File: 18
Date posted: October 13, 2009