This paper explores the following hypotheses on the appropriate education for innovating entrepreneurship: a) breakthrough inventions are contributed disproportionately by independent inventors and entrepreneurs, while large firms focus on cumulative, incremental (and often invaluable)...

Why does a dynamic growing economy have a persistent long-term unemployment problem? Research Associates Baumol and Wolff have isolated one cause. Although technological change, the engine of growth and economic progress, may not affect or may even increase the total number of jobs available,...

Investment in innovation in industrialized economies increasingly is taken over by large firms that operate their own R&D divisions and transform technological change into a routine bureaucratized process. Powerful competitive forces require firms to do this for survival. But such routinized...

Privatization outside Eastern Europe has encountered more difficulties than are generally recognized. The firms sold by government are often endowed with market power in part because when nationalized they had been protected from competition. Consequently they are often subjected to tight...

Entrepreneurs are widely recognised for the vital contributions they make to economic growth and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics but,...

The innovation process, which is the main factor to sustain economic growth, needs for entrepreneurs who are able to take risks. An innovation must be widely broadcasted while bringing its creator a sufficient profit. This is the key for him to pursue his innovative action. This is precisely for...