The book The Entrepreneurial Imperative by Carl J. Schramm is subtitled “How America’s Economic Miracle Will Reshape the World and Change Your Life”.
This is not a book on entrepreneurship, but rather a book on why entrepreneurship (practice of, promotion of, as foreign policy) is important to the a public policy for future USA.
Right from page one the thesis is presented directly:
For the United States to survive and continue its economic and political leadership in the world, we must see entrepreneurship as our central comparative advantage. Nothing else can give us the necessary leverage to remain an economic superpower. Nothing else will allow us to continue to enjoy our standard of living. We either support and nature increasingly entrepreneurial activities in all aspect of our society and around the globe or run the very real risk that we will become progressively irrelevant on the world stage and suffer economically at home.
In short, entrepreneurship in business and universities; in our approach to both government and forign policy; and in our personal lives is the only answer if we hope to continue to thrive.
Aren’t there other solutions?
The author offers these definitions:
- Entrepreneurship is the process in which one or more people undertake economic risk to create a new organization that will exploit a new technology or innovative process the generates value to others.
- The Entrepreneur is one who undertakes personal economic risk to create a new organization that will exploit a new technology or innovative process the generates value to others.
Those definitions work for me well enough for me.
I’d like to see what candidates for President in 2008 are going to talk this up – if any.
For foreign policy, this means promoting in entrepreneurial capitalism over democracy promoting (or even business/globalization in general) .
For domestic policy, this means creating environments were entrepreneurship is rewarded, and risks are reduced (less risk = more entrepreneurial activity). What might this mean: National systems of employer independent pension and health insurance systems (not gov run), and new financing and legal mechanisms.
For schools and universities, this means entrepreneurship should be taught and practiced.
This seems like an important book to me. At under 200 pages it is a quick read. Hey, used copies are a buck on Amazon.com too!
Update: I corrected many grammar/spelling mistakes.