

The United States of Entrepreneurs - America still leads the world - mirceagoia
http://www.economist.com/node/13216037

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joonix
Article does a great job summing up some of the reasons why the
entrepreneurial culture in the US is unmatched. If you doubt it, spend some
time in other first world nations. You don't really realize it until you live
outside the US.

The point about bankruptcy is a very good one that often goes unnoticed.
Failure is just not that big of a deal in the US. In many states, you get to
keep your house. Chapter 11 is a fascinating system. Both consumer and
business bankruptcy have been tightened under Republican power at the behest
of creditors, however.

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mirceagoia
FOR all its current economic woes, America remains a beacon of
entrepreneurialism. Between 1996 and 2004 it created an average of 550,000
small businesses every month. Many of those small businesses rapidly grow big.
The world's largest company, Wal-Mart, was founded in 1962 and did not go
public until a decade later; multi-million dollar companies such as Google and
Facebook barely existed a decade ago.

