Innovation, Entrepreneurship and Economy for Sustainable Development

4 Pages Posted: 5 Nov 2018

See all articles by Nazrul Islam

Nazrul Islam

Canadian University of Bangladesh

Date Written: October 14, 2018

Abstract

The economic growth of a country often depends on the factors like availability of natural resources, rate of capital formation, favorable capital-output ratio, technological progress, dynamic entrepreneurship, rate of growth of population, conditions of social overheads such as, education, health, and various non-economic factors. In 1960s, Cattell and Butchir found that 7% world populations living in USA and they enjoy 43% world’s wealth while 55% populations live in Asia enjoy only 16% resources of the world. At present, just 5% of the world's population live in USA consumes 23% of its energy. That's really extravagant. Imagine if you waste five times more gasoline or five times more food or produced five times more garbage, your neighbors wouldn't be very happy! Yet, that's what we're doing. This difference is mainly because of the ownership of natural resources. However, these resources are not unique for certain countries only but its existence cannot expedite the economic growth without the development of entrepreneurship.

Keywords: Innovation, Entrepreneurship, Technological Progress, Economy, Sustainable Development

Suggested Citation

Islam, Nazrul, Innovation, Entrepreneurship and Economy for Sustainable Development (October 14, 2018). Available at SSRN: https://ssrn.com/abstract=3266042 or http://dx.doi.org/10.2139/ssrn.3266042

Nazrul Islam (Contact Author)

Canadian University of Bangladesh ( email )

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Dhaka, 1213
Bangladesh
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HOME PAGE: http://www.cub.edu.bd

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