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Public policy to promote entrepreneurship: a call to arms

Publication ,  Journal Article
Acs, Z; Åstebro, T; Audretsch, D; Robinson, DT
Published in: Small Business Economics
June 1, 2016

We debate the motivation for and effectiveness of public policies to encourage individuals to become entrepreneurs. Reviewing established evidence we find that most Western world policies do not greatly reduce or solve any market failures but instead waste taxpayers’ money, encourage those already intent on becoming entrepreneurs, and mostly generate one-employee businesses with low-growth intentions and a lack of interest in innovating. Most policy initiatives that would have the effect of promoting valuable entrepreneurship would not be recognizable as such, because they would primarily address other market failures: A central-payer health care would remove healthcare-related distortions affecting employment choices; greater STEM education would produce more engineers of which some start valuable new firms; and labor market reform to encourage hiring immigrants in jobs they have been educated for would reduce inefficient allocation of talent to entrepreneurship.

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Published In

Small Business Economics

DOI

EISSN

1573-0913

ISSN

0921-898X

Publication Date

June 1, 2016

Volume

47

Issue

1

Start / End Page

35 / 51

Related Subject Headings

  • Business & Management
  • 38 Economics
  • 35 Commerce, management, tourism and services
  • 15 Commerce, Management, Tourism and Services
  • 14 Economics
 

Citation

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Acs, Z., Åstebro, T., Audretsch, D., & Robinson, D. T. (2016). Public policy to promote entrepreneurship: a call to arms. Small Business Economics, 47(1), 35–51. https://doi.org/10.1007/s11187-016-9712-2
Acs, Z., T. Åstebro, D. Audretsch, and D. T. Robinson. “Public policy to promote entrepreneurship: a call to arms.” Small Business Economics 47, no. 1 (June 1, 2016): 35–51. https://doi.org/10.1007/s11187-016-9712-2.
Acs Z, Åstebro T, Audretsch D, Robinson DT. Public policy to promote entrepreneurship: a call to arms. Small Business Economics. 2016 Jun 1;47(1):35–51.
Acs, Z., et al. “Public policy to promote entrepreneurship: a call to arms.” Small Business Economics, vol. 47, no. 1, June 2016, pp. 35–51. Scopus, doi:10.1007/s11187-016-9712-2.
Acs Z, Åstebro T, Audretsch D, Robinson DT. Public policy to promote entrepreneurship: a call to arms. Small Business Economics. 2016 Jun 1;47(1):35–51.
Journal cover image

Published In

Small Business Economics

DOI

EISSN

1573-0913

ISSN

0921-898X

Publication Date

June 1, 2016

Volume

47

Issue

1

Start / End Page

35 / 51

Related Subject Headings

  • Business & Management
  • 38 Economics
  • 35 Commerce, management, tourism and services
  • 15 Commerce, Management, Tourism and Services
  • 14 Economics