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On the rise of unproductive entrepreneurs like Travis Kalanick

Summary:
Entrepreneurs are universally celebrated, but what if modern day entrepreneurship is creating ventures that do more harm than good?A piece this week in Harvard Business Review by Robert E. Litan and Ian Hathaway reminds us of this point by citing the work of William Baumol, who passed away last month.Baumol’s overarching theory is fantastically compelling. It suggests the number of entrepreneurs in an economy is essentially fixed and what influences a nation’s entrepreneurial output is how those entrepreneurs are incentivised.As per our own longstanding argument that innovation should not be treated as a universally positive phenomenon — since innovation comes in both good and bad forms — the view here is that the underlying incentive structure of the economy in which an entrepreneur

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Entrepreneurs are universally celebrated, but what if modern day entrepreneurship is creating...

Izabella Kaminska
Izabella Kaminska joined FT Alphaville in October 2008, which was, perhaps, the best time in the world to become a financial blogger. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP’s internal magazine. She has also worked as a reporter on English language business papers in Poland and Azerbaijan and was a Reuters graduate trainee in 2004.

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