This is an insightful article from the Stanford Graduate School of Business. It’s worth a read. Check it out!
Let’s take this article as a beacon for revitalizing Europe. The challenge is to turn many of the ‘lost generation’ of young people across Europe into entrepreneurs. With advancing technology and global sourcing, it will be hard to replace traditional jobs in Europe. Youth unemployment levels in Southern Europe are 60% +.
Rather than social benefits and dreaming about jobs, policy should remove bureaucracy and provide massive incentives for entrepreneurs. European Commission policy needs to be supplemented by massive fiscal incentives for entrepreneurs. Also banks need to be supportive – either they support entrepreneurs or they are broken-up, nationalized or suffer penalty pain taxes. It’s not rocket science – it’s doable, with a little political will.