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Are Small Firms Important? Their Role and Impact

  • Zoltan J. Acs

Table of contents

  1. Front Matter
    Pages i-xi
  2. Zoltan J. Acs
    Pages 1-20
  3. David B. Audretsch
    Pages 21-37
  4. John R. Baldwin, Joanne Johnson
    Pages 51-77
  5. Candida Brush, Robert D. Hisrich
    Pages 111-127
  6. Zoltan J. Acs, Randall Morck, Bernard Yeung
    Pages 147-157
  7. Back Matter
    Pages 169-177

About this book

Introduction

Are Small Firms Important? Their Role and Impact proposes and supports the claim that small firms make two indispensable contributions to the economy. First, they are an integral part of the renewal process that pervades market economies. New and small firms play a crucial role in experimentation and innovation that leads to technological change, productivity and economic growth. Second, small firms are the essential mechanism by which millions enter the economic and social mainstream of American society. The public policy implications for sustained economic growth and social well-being is the continued high-level creation of new and small firms by all segments of society. It should be the role of government policy to facilitate that process by eliminating entry barriers, lowering transaction costs, and minimizing regulation.

Keywords

Change Economic Growth Entrepreneurs Entrepreneurship business growth innovation

Editors and affiliations

  • Zoltan J. Acs
    • 1
  1. 1.University of Baltimore and U.S. Bureau of the CensusUSA

Bibliographic information