Assignment
In Good and Bad Capitalism, the authors explain the importance of entrepreneurship as another factor for economic growth. Please explain:
1. What are the main four classical factors that according to traditional economists contribute to economic growth?
2. How does entrepreneurship contribute to economic growth and what are the elements that help entrepreneurship?
3. What is the role of innovations and radical breakthroughs for economic growth, and the entrepreneurial spirit and trade?
Text Book: Good Capitalism Bad Capitalismand Ecomics of Groth and Prosperity by William J. Baumol, Robert E. Litan and Carl J. Schramn.