Harvard Business School Report - Can entrepreneurship rescue the U.S.?
It’s no secret that the U.S. economy is in a tough state, with mile-high deficits and slow growth in jobs. Other countries are pulling ahead, but some cling to the hope that start-ups and the spirit of entrepreneurship embodied in Silicon Valley could save the country. That’s one of the conclusions reached by a team of Harvard Business School professors who toured the valley this fall.
Their report included a survey of 10,000 HBS alumni across the economy. About 71 percent of respondents expect U.S. competitiveness to decline over the next three years, with workers’ living standards under greater pressure. About 1,700 of the respondents had to personally make decisions about whether to leave the U.S. for jobs overseas.
One of the participants was William Sahlman, a professor of entrepreneurship at the Harvard Business School.
“Every CEO in Silicon Valley cares about U.S. competitiveness,” said John Riccitiello, the chief executive of Electronic Arts. “Frankly, I see U.S. competitiveness slipping. It frustrates me as a U.S. CEO to see politicians decry the movement of jobs offshore and unemployment on a 90-day basis every four years, when the rest the time our policies seem to push jobs offshore for the rest of the time we work. Whether it is tax policy or immigration policy, we’d like to hire people here but the policies push them back overseas.”
Riccitiello said that the education gap has become “amazing” and that the U.S. graduates a small fraction of the number of engineers that graduate in China. He said EA will likely hire 5,000 engineers by the end of the decade, but it cannot accomplish that by hiring solely in the U.S. because there isn’t enough talent here.
PDF document http://www.hbs.edu/competitiveness/pdf/hbscompsurvey.pdf