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Showing posts with the label General Model of Economic Growth

Internet start-ups dog or cash cow

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My dog Max might take offense, if he could at being associated with failure. In particular he may take offense at being associated with failed Internet start-ups. Having said that, he has a lot in common with Internet start-ups. He is undeniably cute, as are many Internet start ups, he attracts a lot of attention - especially when out and about (in the park) and dispute all th attention and fans that he has, he costs me money and does not generate a penny ! Luckily I have invested in him as a companion rather than a business ... Max the puppy     The debate is on, are we in another tech bubble or not ? I agree with Steven Blank we are certainly in a bubble. For me the indications are more heuristic than scientific. I see young "entrepreneurs" running around using words like "social media", "traction" and "pivot" - most of them cannot define these terms and when I ask "what is your business model ?" - I get either a blank stare or ...

Towards a theory of economic growth

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A couple of years ago, whilst attempting to complete a masters degree in Business Administration  I somewhat naively attempted to create a model linking entrepreneurship to economic growth. I began a 3 year quest to read all I could about entrepreneurship and economics. It become apparent early on, that academics simply do not agree on what entrepreneurship is. Furthermore modern economic theory has very little to say about the entrepreneur. I found this to be somewhat confusing, being a simple engineer, I expected there to be at least some basis on which to build an economic theory based on entrepreneurship. Afterall, it would seem evident from our current and historic experience that entrepreneurship (if we agree on what it is) generates economic growth. Almost every nation has a host of policies trying to stimulate entrepreneurship, however, academics did not seem to have a very good idea of how this growth worked. I presented my model for my dissertation, however, ...