Thursday, February 17, 2011
Providing hope to developing nations via business
So my lovely wife Donna Kelley, a Professor of Entrepreneurship at Babson College and proud Umass MBA, is giving a presentation in Washington D.C. on "Entrepreneurship and Economic Development" this morning to the State Department and other government agencies advancing the idea of entrepreneurship as a solution to unemployment problems in developing nations.
Many of these countries, like Egypt, have invested heavily in higher education, producing well educated college graduates who then find less opportunity in the job market. Entrepreneurship stimulates the overall economy by providing more--and oftentimes higher paying--employment opportunities.
Individuals can create their own jobs as well as build firms that can employ others when society cannot provide enough jobs. And when people are gainfully employed, they are less likely to engage in desperate, destabilizing activities.
The presentation is based on Global Entrepreneurship Monitor research data culled from 59 economies worldwide.