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The Entrepreneurial Imperative By Carl Schramm

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Introduction Entrepreneurial capitalism, the foundation of our economic system has dramatically changed in the last thirty years. We now live in the most entrepreneurial time in our history; we live in an era of continuous innovation; our country has largely been responsible for this; we created the more efficient capital markets that reward innovative companies and the entrepreneurs who created them; we invented the Internet; we funded the growth of our universities that make education a common achievement for all. While growing and transforming our own economy into this new economy, we have profoundly impacted much of the world. Many countries have either adopted our democracy or on their way to emulate ours. In his book, “The Entrepreneurial Imperative”, author Carl Schramm discusses how the transformation of our economy to an entrepreneurial one has taken place over the last thirty years, and what must be done to sustain the advantages that this economy has given our nation in the years to come. Entrepreneurship and America’s future In poor or developing countries people are more entrepreneurial than in developed countries out of necessity. In those countries, people have a constant need to earn a little more than what they earn from their regular employment. However, in the developed countries like the U.S., UK, and other industrialized European countries, entrepreneurs pursue business by choice. This is the reason why most of the largest enterprises come out of these

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