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It’s a stretch, but some would argue that if funds were directed from programs that fight the drug war against marijuana to programs designed to promote job creation and entrepreneurship, we will be much better off. Of course, the premise behind this argument is that we won’t be worse off (some say minorities would be especially impacted) by allowing people to use cannabis at their leisure.
Certainly it is unwise to make any drastic decisions based on our desperation for economic growth, however, both sides do have interesting arguments.
What do you think? Take our poll to the left.
A recent article by Reuters brought the issue to our attention:
Between 1971, when Richard Nixon launched the war on drugs, and 2008, the latest year for which official figures are available Read the rest of this entry »
New business formation is one of the most important economic and social activities for any society expecting economic gain and innovation. Research sponsored by the Ewing Marion Kauffman Foundation reveals that new business formation is widespread and involves all racial and ethnic groups. Following are highlights of two recent studies relevant to minority entrepreneurship, including The Entrepreneur Next Door: Characteristics of Individuals Starting Companies in America and Minorities and Venture Capital: a New Wave in American Business.
- Entrepreneurship is a widespread activity in the United States. Participation is as common as getting married or the birth of a baby. About 6.2 in every 100 U.S. adults 18 years and older are engaged in trying to start new firms
- Blacks are about 50 percent more likely to engage in start-up activities than whites. Hispanic men Read the rest of this entry »
Harvard University professors Edward Glaeser and William Kerr recently published an article detailing their long-standing research that contradicts the generally accepted notion that regional economic growth is highly correlated to the number of large employers.
The professors call the systematic approach of local governments offering economic incentives (usually in the form of tax breaks) to large, developed corporations “smokestack chasing.” However, in contrast to generally accepted political theory, their research proves that incentives for the creation or growth of a greater number of smaller or start-up firms is more attributable to regional economic growth. Read the rest of this entry »