“
Discovery
consists of
seeing
what everybody has seenand
thinking
what nobodyhas
thought
.
”
KAUFFMAN Thoughtbook
2009
E x c E r p t f r o m
Fourth in an ongoing series, the
Kauffman Thoughtbook 2009
captures what we arethinking, learning, and discovering about education, entrepreneurship, and advancinginnovation. This collection of more than forty essays is written by the talented KauffmanFoundation associates, partners, and experts who are pursuing the principles and visionset by our founder, Ewing Kauffman.REQUEST YOUR COMPLIMENTARY COPY AT
kauan.g
©2008 by the Ewing Marion Kauffman Foundation. All rights reserved.
98
ro Chsig Sokestcks toEbrcig Etrepreership:
Regiol Growth Throgh Ecooic Policy
eD GlaeSeR, P.D.
Frd d er Gip Prssr ecics, hrvrd Uivrsity
a cetry go, cities cold scceed by beig low-cost prodcers o ctred goods.Good ports d ril yrds de the cities o the midwestd northest idstril powerhoses. Chgig trsporttio systes dglobliztio hve eliited tht pth to prosperity. Tody, cities c scceedoly i they re ceters o iovtio tht prodce ew techologies d ewbsiess odels. There is o wy or goverets to dte iovtio ro ohigh. Idividl etrepreers re the key prodcers o ew ides. Bt how cplces ge to be ceters o etrepreership?at the city level, bdce o sll etrepreeril rs predicts sccess.High skill-levels re potet predictor o popltio d icoe growth.Idstril diversity d bdce o idepedet sppliers lso see to behelpl. These re the cts tht sggest tht cities shold pt etrepreershiphed o sokestck chsig.There re two relted tsks ivolved i cretig etrepreeril cities. irst,cities st ttrct srt, etrepreeril people. Secod, cities st possess irstrctre tht spports cretive, risk-tkig behvior. The two tsks eed ito
Excerpt ro
Kauffman Thoughtbook 2009
. ©2008 by the Ewig mrio K odtio. all rights reserved.
99
ech other. Srt, etrepreeril people will be ttrcted by good etrepreerilirstrctre. I those etrepreeril people coe to re, they will help tobild the legl, socil, d physicl irstrctre they eed to sccesslly iovte.The ecooic ipertive to ttrct skilled, prospective etrepreers es thtqlity-o-lie policies becoe ecooic developet strtegies. Good schoolsboth prodce well-edcted stdets d ttrct well-edcted prets. Klzoo,michig’s strtegy o pyig or college or ll o the city’s 10,000 pblic schoolchildre is cretive edctio strtegy tht y ttrct srt people. Srttrsporttio policies, like cogestiochrgig, c crete st cotes dhelp coect prospective etrepreers.moderte txes lso will ttrct peoplewho re plig o geertig welth.Hevy ld-se regltios restrict loclgrowth d keep hosig prices high. I re wts to ttrct yog, prospective etrepreers, tht re eeds to kesre tht developers c bild ew, ordble hosig stock tht will ppel totre bsiess leders. This does’t e hosig sbsidies; it es jst givigthe ree rket eogh reedo to bild eeded hoes d bsiess spce.Goveret policies shold spport rther th styie etrepreeril ctivity.Etrepreers re sesitive to bsiess txes d regltios. Right-to-work stteshve bee ch ore sccessl i ttrctig ew bsiesses over the lst tyyers th their ore pro-io copetitors hve bee. I world where rsre extreely ootloose, re st ke sre tht it is ot erectig policiestht std i the wy o srt people tryig ew thigs.
- ro Chsig Sokestcks to Ebrcig Etrepreership -
I world where irsre extreely ootloose, re st ke sretht it is ot erectigpolicies tht std ithe wy o srt peopletryig ew thigs.
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From Chasing Smokestacks to Embracing Entrepreneurship
Ed Glaeser, Professor of Economics, Harvard University, explains that today's cities can succeed only if they are centers of innovation that produce new technologies and new business models. See the source url for related video.
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