Institutions
Where Are All the Entrepreneurs Gone in Japan?
For a nation that once boasted the likes of Sony, Toyota and Mitsubishi as its entrepreneurial heralds, Japan’s entrepreneurial record in the new millennium is surprisingly sparse. Indeed, entrepreneurs in Japan have become the exception rather than the norm. Common problems faced by aspiring entrepreneurs include the lack of venture capital, labyrinthine government regulations, and the dominance of large companies. Yet for all these factors, it takes two hands to clap – you need both an environment conducive to startups as well as people who aspire to be entrepreneurs.
Are Entrepreneurs the Source of Economic Crises?
Entrepreneurship is often depicted as the solution to society’s problems, the sure path to higher economic growth for nations. Countless journal articles and books have glorified entrepreneurs, turning the Gateses and Zuckerbergs of the world into celebrities and icons. In this concert of praises, casting a critical eye onto entrepreneurship has become a taboo. Yet Madoff was an entrepreneur, too.
The Interaction Hierarchy: A Theory of Technical Standards and Regulations
Standards and regulations are at the very core of what makes us human. Without standard interactions and methods of communication, what we now consider “society” could never have developed. Nonetheless, we are constantly innovating, creating new products and processes that do not yet have standard parts or regulated interactions. This leads to one of the fundamental questions of human social organization as well as of innovation: when and how should standards and regulations be implemented?
