entrepreneurship and economic growth literatures by developing a knowledge spillover theory of entrepreneurship. Knowledge created … endogenously results in knowledge spillovers that give rise to opportunities to be identified and exploited by entrepreneurs. …

This paper explores the relationship between knowledge creation, entrepreneurship, and economic growth in the United … States over the last 150 years. According to the “new growth theory,” investments in knowledge and human capital generate … economic growth via spillovers of knowledge. But the theory does not explain how or why spillovers occur, or why large …