The current American economic decline is a result of fundamental flaws in the economic structure of the country. The flaws in financial markets and financial policy allowed negative economic trends to grow and fester under the Bush administration. The U. S. Congress contributed mightily to the...

This paper reviews the literature on benefits and (potential) problems from university patenting and licensing activity, based on 109 papers published between 1980 to 2004. Reasons for university patenting activities include positive influence on researchers' careers, prestige and earnings;...

Our interest in writing this article is to create a bridge between the scholarly and academic research on technological innovation and a private sector, for-profit business model that implements the ideas on innovation and entrepreneurship, primarily in metro regional economies.Radical...

Policy-related discussions increasingly view universities as so-called "engines of economic growth." Recognizing that the economic impact of universities is dependent, at least in part, on the success of university-affiliated entrepreneurial ventures, this paper reviews the extant literature to...

We estimate differences in innovation behavior between foreign versus U.S.-born entrepreneurs in high-tech industries. Our data come from the Annual Survey of Entrepreneurs, a random sample of firms with detailed information on owner characteristics and innovation activities. We find uniformly...

We study the problem faced by the entrepreneur seeking outside support to turn an entrepreneurial idea into a successful innovation — specifically a successful technological innovation resulting from research and development. The paper develops and tests the hypothesis that as an...

The positive effect of public research on industrial innovations is beyond controversy: public research institutions produce knowledge that is subsequently transferred into product and process innovations by private businesses. Besides this rather passive role in commercializing inventions,...

This paper distinguishes entrepreneurial network effects from the firm effects and industry effects that have been the focus of much of the literature about the economics of technological change and the economics of industrial organization. A method of identifying entrepreneurial networks is...

We analyze the roles of entrepreneurs, venture capitalists (VC), and the government in financing fundamental innovations, defined as those with positive social value net of development costs, but negative net present values to innovating firms. We first analyze the case where the entrepreneur,...