Professor Bhidé Questions "The Elusive Underpinnings of U.S. Venturesomeness (If Not Prosperity)"

Journal of Applied Corporate Finance

Vol. 21, Issue 2, pp. 36-48, Spring 2009

But this begs the question: What accounts for the increase in the innovative capabilities or effectiveness of U.S. consumers and businesses, both over time and relative to that of their global counterparts? After starting with the conventional “supply-side” focus on low taxes, limited regulatory barriers, and strong property rights, the author goes on to shift the main emphasis to the following six “institutional” contributors to U.S. prosperity.