Entrepreneurship and The American Dream
This month marks the close of our first official calendar year of operations, and we’re excited for what has been achieved so far and what lies ahead in 2018. As we enter the holiday season, we should all reflect on the role that wealth creation has played in enabling our amazing modern standards of living at home and lifting millions out of poverty abroad. Undoubtedly, business creation and entrepreneurship play an important role in human flourishing and continually provide new opportunities for individuals to thrive.
Much of our research in 2018 will explore the relationship between economic mobility and entrepreneurship. I recently published an article on our new institutional Medium account which sets the stage for that future research. I hope you enjoy it, and please let me know if you have any comments or interesting ideas for potential research projects or collaboration.
One of the main barriers to entrepreneurship and economic mobility is occupational licensing. Following up on our latest research study, Barriers to Mobility, is our latest op-ed published by Dr. Ed Timmons in The Hill summarizing his initial research findings. Stay tuned for the in-depth study early next year.
Last but not least, because this is the holiday season after all, we’re sure your Christmas shopping will take you to a mall or a department store. That is why we are pleased to share with you the remarkable story of James Cash Penney as our latest in the American Originals series. You may find yourself to be an unwitting part of his legacy when you shop or visit a J. C. Penney location this holiday season. I know I will.
From everyone on the Archbridge team, we would like to wish you all the best this holiday season and that you have a prosperous 2018.
Warm regards,
Gonzalo Schwarz
President and CEO | Archbridge Institute
New from the Archbridge Institute
Writing for The Hill, Dr. Edward Timmons of Saint Francis University examines why rates of absolute economic mobility have slowed and points to the growth in occupational licensing requirements as one possible cause. Dr. Timmons highlights the findings from the recent Archbridge report, Barriers to Mobility: Understanding the Relationship Between Growth in Occupational Licensing and Economic Mobility. Dr. Timmons and his co-authors conclude that, although further research is needed, there is evidence to suggest that the growth in occupational licensing requirements negatively affects economic mobility.
Read the Full Op-Ed: The American Dream Isn’t Dead, But It Is Ailing
Archbridge President and CEO Gonzalo Schwarz makes the case that entrepreneurs must take up the mantle of poverty reduction. Wealth creation and entrepreneurship has led to the greatest increase in prosperity (and reduction in poverty) the world has ever seen, but business dynamism in the United States has declined significantly in recent years. Creating entrepreneurial ecosystems and finding ways to boost new business creation will be essential components of any serious efforts to fight poverty.
Read the Full Article: Calling All Entrepreneurs to Rekindle the American Dream
American Originals: J. C. Penney
Our fourth installment of American Originals focuses on the incredible story of J. C. Penney. From humble beginnings on a Missouri farm, Penney went from selling hogs as a child to the founder of one of the most recognized department store chains in the nation — with more than 800 stores still bearing his name. Known for his strong commitment to always doing the right thing and being generous at every opportunity, Penney overcame difficult barriers and circumstances to achieve his American Dream, providing opportunities for so many others along the way.
American Originals traces the stories of those who charted their own paths and achieved a better life for themselves and those around them by embracing personal responsibility, hard work, and an entrepreneurial spirit.
Read the Full Story: J. C. Penney
What We’re Reading
More Proof that Licensing Creates Barriers to Work
Writing for Forbes, Jared Meyer reports on a trio of new studies that pinpoint the growing barrier of state-level occupational licensing requirements. Jared discusses how these laws prevent people, especially those with lower incomes, from joining the labor market.
What is Driving the Decline in Entrepreneurship?
A new job market paper from NYU job candidate Nicholas Kozeniauskas examines possible causes for the recent decline in entrepreneurship. Kozeniauskas finds that most of the reduction can be attributed to increased fixed costs for businesses due to changes in regulation.
Using Government Programs to Encourage Employment, Increase Earnings, and Grow the Economy
In a new paper for the Mercatus Center, Brookings Institution Senior Fellow Ron Haskins offers ideas on how to develop and test new ways to promote work and training across welfare programs and increase employment.
Using Government Programs to Encourage Employment, Increase Earnings, and Grow the Economy
In a new paper for the Mercatus Center, Brookings Institution Senior Fellow Ron Haskins offers ideas on how to develop and test new ways to promote work and training across welfare programs and increase employment.
Video Spotlight
On November 13, 2017, Chris Arnade, a photojournalist documenting the regions and people of the United States that have been hit hardest by a stagnant economy and technological change, gave a presentation at the American Enterprise Institute on “Forgotten America.” Arnade’s work bridges the gap between the real people affected by economic malaise and the often abstract policy discussions that focus on how to help these communities. Watch the full video on YouTube.
