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Some Trends in Need Of Reversal

April 23, 2012 1 minute Read by Robert E. Litan

Check out the figures on this Bureau of Labor Statistics site. Taken as a whole they paint a highly negative picture of new firm formation, the jobs they create, and their survival rates. Clearly, the recession has had a major negative impact on each of these trends, at least through 2010. Given the historical importance of new firms and their growth in generating jobs and gains in future living standards, the U.S. economy clearly needs a strong entrepreneurial resurgence if it is to get its mojo back in a big way on a sustained basis.


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Robert E. Litan

2012 Economic Growth Fellow

Robert E. Litan is Director of Research of B-Gov, a subsidiary of Bloomberg LLP. Previously Litan was Vice President for Research and Policy at the Kauffman Foundation and a Senior Fellow in Economic Studies at the Brookings Institution. He has authored or co-authored more than 20 books, edited another 14, and authored or co-authored more than 200 articles in journals, magazines, and newspapers. He has served in several capacities in the federal government. From 1995 to 1996, he was associate director of the Office of Management and Budget, and from 1993 to 1995 he was Deputy Assistant Attorney General. He received his B.S. in economics (summa cum laude) from the Wharton School of Finance at the University of Pennsylvania; his J.D. from Yale Law School; and both his M. Phil. and Ph.D. in economics from Yale University.

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