The Great Recession’s effect on entrepreneurship

Scott Shane

Economic Commentary, 2011, issue Mar

Abstract: Though the recent recession was the worst downturn since the Great Depression, some observers argue that one silver lining is an upswing in entrepreneurship. Recessions, they claim, provide laid-off workers with the motivation to start their own businesses, and a recent study suggests that in 2009 the number people becoming self employed spiked to its highest level in more than a decade. Unfortunately, a careful look at multiple sources of data shows that the Great Recession was actually a time of considerable decline in entrepreneurial activity in the United States.>

Keywords: Recessions; Self-employed; Small business (search for similar items in EconPapers)
Date: 2011
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