{"insight":{"id":"115027540","lede":"Since 2000, the rate of new business formation has been decreasing at an accelerating rate. Thus, the balance of businesses in the US economy is shifting towards older, incumbent businesses, away from entrepreneurship.","slug":"the-share-of-us-employment-accounted-for-by-young-firms-has-declined-by-almost-30","title":"The share of US employment accounted for by young firms has declined by almost 30% over the last 30 years.","showTitleAsQuote":false,"epistemicStatus":"fact","reports":[{"id":"19519421","title":"Basic Income","slug":"basic-income"}],"tags":[{"slug":"entrepreneurship","name":"Entrepreneurship","id":"112058724","lede":"","ledeExcerpt":"","featured":null},{"slug":"growth","name":"Growth","id":"23932836","lede":"

We define growth as the expansion of wealth in society; growth is about generating a "a bigger pie".

\n\n

Amidst debates over the merits of continued growth, we begin with the idea that all else equal, a society with growth, with more wealth, is preferable to one with less. Without growth, society becomes a zero-sum distributional game: anyone's gain is another's loss. Growth (all else equal) enables shared prosperity.

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But there is broad agreement that current measures of growth, such as GDP, are inadequate to the task of providing a suitable proxy to guide further growth. Whether devising improved measures that account for missing elements such as sustainability, equity, leisure time, or digital value, or constructing altogether new proxies (OECD's Better Life Index, for example), the conversation about how best to measure, and thus drive, equitable, regenerative, socially desirable growth is a rich field of debate.

\n","ledeExcerpt":"We define growth as the expansion of wealth in society; growth is about generating a \"a bigger pie\".\n\nAmidst debates over the merits of continued growth, we begin with the idea that *all else equal*, a society with growth, with more wealth, is preferable to one with less. Without growth, society becomes a zero-sum distributional game: anyone's gain is another's loss. Growth (all else equal) enables shared prosperity.\n\nBut there is broad agreement that current measures of growth, such as GDP, are inadequate to the task of providing a suitable proxy to guide further growth. Whether devising revised measures, such as Tyler Cowen's notion of wealth plus\" (GDP, plus measures of leisure time, household production, and environmental considerations), or constructing altogether new proxies (OECD's 'Better Life Index), the conversation about how best to measure, and thus drive, equitable, regenerative, socially desirable growth is a rich field of debate.","featured":true},{"slug":"business-cycles","name":"Business Cycles","id":"115027534","lede":"

Business cycles refer to the cyclical intervals of expansion and recession experienced by firms and economies.

\n","ledeExcerpt":"Business cycles refer to the cyclical intervals of expansion and recession experienced by firms and economies.","featured":null}],"sources":[{"id":"115027507","lede":"A paper exploring some factors driving the downward trend, accelerating since 2000, of business startups. These trends suggest that incentives for entrepreneurs to start new firms in the US are diminishing over time.","link":"https://www.aeaweb.org/articles?id=10.1257/jep.28.3.3","slug":"the-role-of-entrepreneurship-in-us-job-creation-and-economic-dynamism","kind":"Academic Paper","title":"The Role of Entrepreneurship in US Job Creation and Economic Dynamism","year":"2014-01-01","researchers":[{"id":"115027446","location":"University of Maryland","name":"Ryan Decker","seoDescription":"","slug":"ryan-decker"},{"id":"115027448","location":"Dudley and Louisa Dillard Professor of Economics and Distinguished University Professor, University of Maryland","name":"John Haltiwanger","seoDescription":"","slug":"john-haltiwanger"},{"id":"115027457","location":"Assistant Director for Research and Methodology, US Census Bureau","name":"Ron Jarmin","seoDescription":"","slug":"ron-jarmin"},{"id":"115027458","location":"Principal Economist, US Census Bureau","name":"Javier Miranda","seoDescription":"","slug":"javier-miranda"}]}]}}