Magnus Henrekson // Research Institute of Industrial Economics (IFN) in Stockholm, Sweden
To the profileEntrepreneurial Society: A Reform Agenda for Europe
ZEW Lectures on Economic PolicyThe European Union suffers from an innovation deficit, which must be remedied if the EU is to improve the quality of life of its citizens and remain competitive in the global marketplace. The paper presented in this ZEW Lecture on Economic Policy explains why productive entrepreneurship is a way towards restoring inclusive, innovative and sustainable growth in Europe, before presenting the theoretical framework of the experimentally organized economy, a perspective stressing the collaborative nature of productive entrepreneurial venturing. The perspective is used to outline an entrepreneurial reform strategy covering six broad areas. The reform strategy acknowledges the substantial cross-country differences across the union; since each EU member state has evolved its particular bundle of institutions, many of which are complementary to one another, a one-size-fits-all approach to reforming institutions is likely to fail.
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