Research by a fellow at the Harvard Business School finds that beginning in 1978 the rate of business start ups has consistently fallen, other than a brief rise in 1983-88 and 2003 to 2008. In 1978 business start up rates stood at about 15%, by 2011 the start up rate was about 8%. Since 2008 the start up rate has been below the business failure rate - more businesses have died than have been started.
A fellow at the Harvard Business School suggests the cause may in part be the rise of big box and on line retailers that have killed local retailing.
What does it mean for our future that our business diversity is shrinking? That more and more of our life is controlled by fewer and fewer Corporate CEO's? Is this related to the increasing gap between most of us the the very wealthy? Is this related to the overarching monetary muscle that now controls our politics?
Economist May 10, 2014, page 27 - Citing research by the Brookings Institute
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