Entrepreneurship Scholars Talk Job Creation At SBA Symposium
By AJ Swartwood-Talk Radio News
Two entrepreneurship scholars called for more government stimulation and American innovation to jumpstart the struggling economy during a symposium Thursday with the Small Business Administration.
Zoltan J. Acs, Director of the Center for Entrepreneurship and Public Policy at George Mason University, and Jeremy Wiesen, Emeritus Professor of Entrepreneurship at NYU, emphasized the fact that America has a tradition of innovation and risk taking, but that drive is being overshadowed by rising powers like China and India.
“There’s a tradition in America to not be afraid to fail. When I look at China and India, who are they? They’re willing to go and take risks, and thats partly why they’re successful,” said Acs, who called on America to return to its innovative and creative ways.
“We have the technology, [but] can we go out and commercialize them and get into the next market?” asked Acs, emphasizing the fact that the US is still the technological leader of the world, but needs to be able to turn that creativity into profit.
Wiesen was more blunt in his call for increased governmental action to help accelerate economic recovery and reduce unemployment.
“I want more government involvement and i do need a higher regard for innovation, entrepreneurship and not often talked about venture capitalism,” he said.
In response to criticisms that America is no longer the center of global innovation Wiesen declared, “Lets not forget that we went to the moon…developed the internet…there’s a lot to be mined here.”
SBA, job creation in News/Commentary
Commerce Department Touts Turkish Trade Initiative
By Kyle LaFleur
Top trade and commerce officials from the United States and Turkey held the inaugural meeting of the US-Turkey Framework For Strategic Economic and Commercial Cooperation Tuesday in Washington. In attendance were U.S. Secretary of Commerce Gary Locke, U.S. Trade Representative Ron Kirk, Turkish Deputy Prime Minister Ali Babacan and Turkish Foreign Trade Minister Zafer Caglayan.
“Trade between Turkey and the United States totaled nearly $11 billion last year, mutually beneficial trade,” said Locke. “We believe that through this framework and other dialogues, we can build on this robust commercial relationship to the mutual benefit of the peoples of both of our great nations.”
The framework discussed today has created a US-Turkish Business Council which will provide policy recommendations from business leaders and help each government improve economic relations. The first scheduled meeting of this council is set for 2011.
The FSECC also finalized text on a Memorandum of Intent (MOI) which Locke said will increase bilateral foreign direct investment. That document will be signed by leaders from the two nations later tise year.
“In other areas including energy, transportation, regulatory and scientific cooperations, intellectual property rights, both sides have agreed on activities to help boost bilateral trade and investment in the months ahead,” Locke added.
The Commerce Department believes that a tighter partnership between the U.S and Turkey will yield more jobs in America.
“The more that our businesses are able to sell, not just to each other but around the world, the more they are going to produce,” said Locke. “The more they produce, the more they are going to need people to make those products and provide those services, and that means good paying jobs.”