-employment. -- Entrepreneurship ; Innovation ; Institutions ; Regulation ; Self-employment …

; Innovation ; Institutions ; Property rights ; Regulation ; Self-employment …

strong performance in technological innovation. …

Innovation often takes place in entrepreneurial ecosystems. We use the history of the Silicon Valley venture capital …

contrarian, whereas public policy has a bias toward incremental innovation and replication of past success. If central planners … knew what the next radical innovation would be, there would be no need for Schumpeterian entrepreneurs. Schumpeterian … are too complex to design, and central planning instead reduces the space for organic institutional innovation. …

Venture capital has become a dominant form of innovation finance, used by many high-tech startups. Europe lags the U …

-impact Schumpeterian entrepreneurship relative to the U.S. Once we account for Europe’s strong performance in technological innovation, an …