Public Policy in an Entrepreneurial Economy

In recent years there has been increased focus on understanding the dynamic relationships among entrepreneurship, policymaking, and economic growth. At the heart of research, debate, and practical application is the question: "Under what conditions can entrepreneurship flourish?" And the corollary: "To what degree does encouraging entrepreneurship result in economic growth?" A popular response is to argue for "entrepreneurship policy"—that is, targeted policies that are designed to promote innovation, entrepreneurship, and small business creation. To the editors and contributors of this volume, that approach is fundamentally flawed. They argue that there is no such thing as a discrete entrepreneurship policy; instead, there is only policymaking in the context of an entrepreneurial economy. In other words, all policies—from education and tax reform to securities regulation to immigration—should create an environment that is conducive to entrepreneurship. Presenting new research on such timely topics as health care policy, technology transfer, and intellectual property rights, they build a case for creating the conditions that will motivate entrepreneurs to launch and sustain new businesses. In the process, the book addresses policies operating at the individual, national, regional, and international levels, and offers a unique perspective on several institutional structures that enhance entrepreneurship and economic growth.