Is America Encouraging the Wrong Kind of Entrepreneurship?

Last month economist William Baumol passed away at the age of 95. His death was universally mourned by members of the economics community, many of whom shared the view that he had passed before receiving a much-deserved Nobel Prize. One of us (Robert) had the great privilege of working with him, befriending him, and being able to regularly witness his economic wisdom, even in his later years.