Introducing the One-Sector Economy
How should you think about the relationship between established, large businesses and scrappy upstarts like the one you’re trying to build? Should you be afraid of globalization or excited about it? In general, what mental models should young entrepreneurs have for the economy and the current economic turbulence we're experiencing?
Traditional answers often focus on various sectors and involve more or less hand-wringing about their rise and fall, but according to the author of a forthcoming book on entrepreneurship and economy, there is another, better way to view our economy—as one single ecosystem, a sort of one-sector economy that interacts as a unit much like a forest and which should be nurtured as it grows and recycles itself.
Written by Philip Auerswald, a professor of public policy at George Mason University and a senior fellow at the Kauffman Foundation, The Coming Prosperity: How Entrepreneurs Are Transforming the Global Economy is due out in April, but you can get a taste of Auerswald’s most optimistic take on the entrepreneurship and global economy with this video of an animated, 10-minute talk he gave recently to lawmakers.