21_Enterpreneur

21_Enterpreneur - Impact of Risk and Entrepreneurship on...

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Impact of Risk and Impact of Risk and Entrepreneurship on Economic Entrepreneurship on Economic Growth. Growth. Zagorsky Chapter 12 “Productivity and Growth”
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First Question Why Are Some Countries Rich and Others Poor? A country’s standard of living depends on its ability to produce goods and services Rich countries are able to produce Poor countries are not able to produce
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How Can a Country Grow? One method is to make a country’s citizens like more RISK!
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Why is Risk Important for Macro? Entrepreneurs (people who start new businesses) help a country dramatically increase GDP. Identified by Jean-Baptiste Say. Entrepreneurs by their actions are people who are taking big risks. Company fails, they get nothing Company succeeds large rewards Some countries are good at producing entrepreneurs. Others are not.
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Some Data New business formations per 10,000 adults
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Counter Point Malcolm Gladwell writes an interesting story. In his mind successful entrepreneurs are not risk takers Instead they are people who recognize great low risk opportunities that pay off a lot of money!
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Risk A person is said to be risk averse if she exhibits a dislike of uncertainty.
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