Monday, June 17, 2013

Well, we've been declining in economic freedom for years, so this isn't surprising...

It must be a day to cite unlikely sources here at OLS -- my last post referenced the dreaded CNN, and now this from CNBC!  Apparently, a recent report from Barclays suggests the US has fallen behind other major geographic regions in terms of the creation of entrepreneurial wealth.  From the article:
But despite the high-profile examples, America may actually be falling behind the rest of the world when it comes to creating entrepreneurial wealth. A new study from Barclays, "Origins and Legacy: the Changing Order of Wealth Creation," finds developing countries now lead the U.S. when comes to wealth creation by entrepreneurs.
Though the article is interesting and worthwhile (particularly since it is not very long), it doesn't provide much in the way of possible explanations, though they do point out that business cycles may play a role.  Check it out yourself and see what you think.