Why America Is Losing Its Entrepreneurial Edge
Harvard Business Review
MAY 20, 2014
The rate of business formation in 2011 was almost half of what it was in 1978, with the rate of dissolution somewhat higher than the past couple decades. This paper by the Richmond Fed shows how from 1960 to 2005, the U.S. In pharmaceuticals, the largest company, Pfizer, is the result of decades of mergers.
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