John Van Reenen

If you look over the last 20, 25 years, the fraction of jobs in new firms has actually declined in the US. The degree of entrepreneurship has been going down van reenen thinks this may have to do with a decreased appetite for risk one of the reasons for people being risk averse is the worry about failure because if you fail it makes it look like maybe you were incompetent or doing the wrong thing

If you look over the last 20, 25 years, the fraction of jobs in new firms has actually declined in the US. The degree of entrepreneurship has been going down van reenen thinks this may have to do with a decreased appetite for risk one of the reasons for people being risk averse is the worry about failure because if you fail it makes it look like maybe you were incompetent or doing the wrong thing

If you look over the last 20, 25 years, the fraction of jobs in new firms has actually declined in the US. The degree of entrepreneurship has been going down van reenen thinks this may have to do with a decreased appetite for risk one of the reasons for people being risk averse is the worry about failure because if you fail it makes it look like maybe you were incompetent or doing the wrong thing

Well, I think yes. America is a bit like this compared to Europe. It's like, you know, it's better to try and fail than never to have tried at all. So the rewards for actually trying something, even if it doesn't work out, that is part of a kind of cultural change, which I think is, you know, very beneficial.

Well, I think yes. America is a bit like this compared to Europe. It's like, you know, it's better to try and fail than never to have tried at all. So the rewards for actually trying something, even if it doesn't work out, that is part of a kind of cultural change, which I think is, you know, very beneficial.

Well, I think yes. America is a bit like this compared to Europe. It's like, you know, it's better to try and fail than never to have tried at all. So the rewards for actually trying something, even if it doesn't work out, that is part of a kind of cultural change, which I think is, you know, very beneficial.

And in success. I think that's probably true in failure and in success. Compared to, say, Europe, I think there's a much stronger emphasis on entrepreneurship. If you think of the bankruptcy laws, for example, a more generous approach in Chapter 11 to saying, if things went wrong, it's not necessarily your fault.

And in success. I think that's probably true in failure and in success. Compared to, say, Europe, I think there's a much stronger emphasis on entrepreneurship. If you think of the bankruptcy laws, for example, a more generous approach in Chapter 11 to saying, if things went wrong, it's not necessarily your fault.

And in success. I think that's probably true in failure and in success. Compared to, say, Europe, I think there's a much stronger emphasis on entrepreneurship. If you think of the bankruptcy laws, for example, a more generous approach in Chapter 11 to saying, if things went wrong, it's not necessarily your fault.

In many parts of Europe, historically, it's like, if you're bankrupt, you're not allowed to run another business for another 15 years. That reflects this feeling that it's always your fault if things went wrong.

In many parts of Europe, historically, it's like, if you're bankrupt, you're not allowed to run another business for another 15 years. That reflects this feeling that it's always your fault if things went wrong.

In many parts of Europe, historically, it's like, if you're bankrupt, you're not allowed to run another business for another 15 years. That reflects this feeling that it's always your fault if things went wrong.

I think it is. I think that's part of the... Historically, greater levels of entrepreneurship in the United States and in Europe is related to that greater tolerance of if things go wrong, it's not such a great shame as it would be in Europe. And that creates more success. I mean, you think about the superstar firms in the digital sector, the Googles, the Facebooks, and everything else.

I think it is. I think that's part of the... Historically, greater levels of entrepreneurship in the United States and in Europe is related to that greater tolerance of if things go wrong, it's not such a great shame as it would be in Europe. And that creates more success. I mean, you think about the superstar firms in the digital sector, the Googles, the Facebooks, and everything else.

I think it is. I think that's part of the... Historically, greater levels of entrepreneurship in the United States and in Europe is related to that greater tolerance of if things go wrong, it's not such a great shame as it would be in Europe. And that creates more success. I mean, you think about the superstar firms in the digital sector, the Googles, the Facebooks, and everything else.

You don't see many of those in Europe or any parts of the world, maybe apart from China. So there is something about... The culture of America, I've seen this having lived both in America and in Europe. There is a greater openness to trying new things out, even if, you know, at the end of the day, they don't work out.

You don't see many of those in Europe or any parts of the world, maybe apart from China. So there is something about... The culture of America, I've seen this having lived both in America and in Europe. There is a greater openness to trying new things out, even if, you know, at the end of the day, they don't work out.

You don't see many of those in Europe or any parts of the world, maybe apart from China. So there is something about... The culture of America, I've seen this having lived both in America and in Europe. There is a greater openness to trying new things out, even if, you know, at the end of the day, they don't work out.