Friday, December 15, 2006

Development Quote of the Day

I think this passionate consultant from the Caribbean makes a lot of sense;

“The problem is that we mistake that importance of technical ability, and vastly underestimate the important of entrepreneurial ability. Our schools are organized to produce technicians in all fields, and from age 16 a student must narrow down their course of formal study (for life in most cases) to four subject areas and General Paper.

The truth is that educating another lawyer, doctor or accountant is unlikely to contribute much to our GDP. Narrow technical abilities are admirable, but nowhere near as vital to countries in which the large mass of people cannot afford to use them.

What most developing countries need are not more professionals with masters degrees in contract law, but more entrepreneurs who are willing to hire ever increasing numbers of ordinary people.

In the Caribbean, we have developed First World values that have no basis. In other words, we cannot afford to produce more and more sophisticated cardiologists, when the people who need them are selling icy-mints and steering-wheel covers on the corner.

What would it be like if we as a society were to value entrepreneurs, and determined to make their way easy?”


Via Africa Unchained.

Related;
The Nature and Role of Entrepreneurship in Markets: Implications for Policy by Israel M. Kirzner, and Frederic Sautet
Entrepreneurship And Invention: Toward Their Microeconomic Value Theory by William Baumol
Is Entrepreneurship a Factor of Production?
A Nobel for Entrepreneurship?
The Grameen Myth
Phelps on Entrpreneurship
Good business tips could come from Mauritius
Entrepreneurship Research Portel

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