good news for the ducks
I must really be thinking of California .. today’s song of the day is "Amber" by 311. Can’t wait for the mellow drive home. On the plus side, it should be 60 degrees and sunny today — I hope that the ducks are smiling.
Just read a working paper put out by an assistant prof. at HBS. If you don’t read the working knowledge site — perhaps you should. There are a few interesting articles.
Here’s a link to the paper:
http://www.hbs.edu/research/pdf/08-047.pdf
Three key points:
Entrepreneurs are, on average, significantly wealthier than people who work in paid employment. The wealthy are also more likely to become entrepreneurs.
Talent matters in entrepreneurship, more so for the less wealthy. The relationship between individual wealth and entrepreneurship in advanced economies is driven at least in part by the fact that wealthy individuals can start lower growth-potential businesses because they do not face the discipline of external finance.
It may be misguided to provide a simple scheme of cheap credit for new ventures, as not all who take up the scheme will be those who really need it.
