Thursday, April 14, 2011

Frontier Economics

Brink Lindsay at Kauffman has a new paper titled Frontier Economics: Why Entrepreneurial Capitalism is Needed Now More than Ever (pdf). The gist is that, "the changing nature of economic growth means that prosperity is actually more, not less, reliant on free, competitive markets." And:
The richer nations get, the more they "rely on innovation to keep growth going – and, therefore, the more we need free-market policies that foster the creation of new businesses and the implementation of new ideas," Lindsey said in the report. "If we are to rise out of the current slump and launch a new, 21st-century boom, it is in the direction of freer, more competitive markets that our policies must turn."

The role of the frontier has been studied by Zoltan Acs and David Miller as well, although their conception is slightly different (see here for starters). Hopefully David will read the paper and offer his thoughts, although I imagine, like me, he'll mostly agree with the main ideas.

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