Sustaining Entrepreneurial Capitalism

38 Pages Posted: 24 Jan 2013

See all articles by William J. Baumol

William J. Baumol

New York University - Stern School of Business, Berkley Center for Entrepreneurial Studies; Leonard N. Stern School of Business - Department of Economics

Robert E. Litan

Brookings Institution

Carl J Schramm

Syracuse University

Abstract

The conventional wisdom is that the surge in productivity growth which has surged in the United States over the past 15 years has been attributed almost wholly to advances in the production and use of information technology. While this is certainly evident from the statistics, a driving force behind the IT revolution has been the development and growth of new firms. Indeed, the U.S. economy has achieved a remarkable transformation over the last several decades from an economy characterized by large, bureaucratic firms into one increasingly powered by entrepreneurial innovation. The challenge ahead therefore is to cement and strengthen the entrepreneurial form of capitalism. In this paper, we provide a framework for policymaking to achieve this objective.

Comments on this paper can be found at: http://ssrn.com/abstract=2206555

Suggested Citation

Baumol, William J. and Litan, Robert E. and Schramm, Carl J, Sustaining Entrepreneurial Capitalism. Capitalism and Society, Vol. 2, Issue 2, Article 1, 2007, Available at SSRN: https://ssrn.com/abstract=2206520

William J. Baumol (Contact Author)

New York University - Stern School of Business, Berkley Center for Entrepreneurial Studies ( email )

New York, NY
United States
212-998-8943 (Phone)
212-995-3932 (Fax)

Leonard N. Stern School of Business - Department of Economics

269 Mercer Street
New York, NY 10003
United States

Robert E. Litan

Brookings Institution ( email )

1775 Massachusetts Ave, NW
Washington, DC 20036
United States

Carl J Schramm

Syracuse University ( email )

900 S. Crouse Avenue
Syracuse, NY 13244-2130
United States

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