The Legatum Convergence, presented by the Legatum Center at MIT, is the global forum on entrepreneurship in emerging markets. Every year, aspiring and established entrepreneurs, venture capitalists, angel investors, academics and others interested in entrepreneurship and bottom-up development convene at this marketplace of ideas.
The desire to establish, own, and operate a business is one of the foundations of American life. The United States’ economic system was and continues to be built upon the idea and reality of private enterprise. Basically, the entrepreneur sees a need and then brings together the manpower, materials, and capital required to meet that need. They often go where others fear, creating and developing a niche. In spite of recessions, depressions, inflation, Republicans, Democrats, and at times the scarcity of new ideas; the American dream of owning a business is becoming world wide.
After viewing the video, prepare your response to the following:
Should the injection of capitalism through “bottom-up” entrepreneurship be one of the key options that all countries should consider for immediate implementation to address the worldwide recession issues? What are the ramifications? What are the other options beyond the “bottom-up” entrepreneurship?