This paper argues that it is crucially important to differentiate between two very distinct sets of entrepreneurs: subsistence and transformational entrepreneurs. Recent evidence suggests that people engaging in these two types of entrepreneurship are not only very distinct in nature but that...

Executive SummaryThe long-run consequences of public policies that facilitate or hinder the development of a venture sector—the impact on national prosperity that a vital entrepreneurial climate can have—are substantial. In many cases, there is likely to be a role for the government in...