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There is a lot more to entrepreneurship than a high education level. Young people are more educated than ever, yet small business creation is lower than ever[1]

There is a lot more to entrepreneurship than a high education level. Young people are more educated than ever, yet small business creation is lower than ever[1]. A business requires startup capital, which is tough to gain when you must start your career in $40k-$100k in debt. The salaries of recent grads have been lower, too. Cost of living, especially in housing and medical expenses, is going up every year. With dwindling social stability and a hobbled ability to save, the only ones who can safely risk starting a business nowadays are those who already have capital. [1] https://www.washingtonpost.com/news/on-small-business/wp/2015/02/12/the-decline-of-american-entrepreneurship-in-five-charts/ https://www.washingtonpost.com/news/on-small-business/wp/201...

TheOtherHobbes 10y ago
Your first point depends on your definition of "educated." I'm unconvinced that young people are more educated than ever, because education includes broad critical/creative thinking. It's not cookbook mimicry bounded by a narrow set of choices in a common problem space. It's the difference between "I made a new web framework" and Vannevar Bush or John von Neumann. As for cost of debt - yes, it gets much harder to innovate when access to free capital is rationed. Rationing and hoarding capital is actually one of the dumbest things a capitalist culture can do. "Hard work" won't fix this.