Recently, the Korean Ministry of Knowledge and Economy decided to hold annual "Entrepreneurship Weeks" to foster economic growth. I applaud the intentions behind this move, but entrepreneurship cannot exist without economic freedom, dreamers and risk-taking.
Everyone always hears about Bill Gates and how he dropped out of Harvard to start Microsoft. However, according to The Millionaire Next Door, 80% of America's millionaires are first generation rich. Self-employed Americans account for 2/3 of U.S. millionaires. The top 100 new companies in the U.S. had $5.7 billion in revenue and are projected to employ 15,000 workers by 2009. (Entrepreneur Magazine August 2008)
If you want to foster entrepreneurship, you need to create an environment where people can dream. This is not possible if everyone wants the safety and security of a civil servant position.
In addition, there must economic freedom without barriers to market entry. If government regulations designed to protect large corporations exist, then what chance does a start-up have? The very notion of taking on a chaebol seems absurd. Moreover, if everyone's dream is to work for a chaebol, who will be left to challenge them? First you dream, then you take calculated risks, but before that -- there must be hope.
Index of Economic Freedom 2008
| Rank | Country | Summary
|
| 1 | 90,3 | |
| 2 | 87,4 | |
| 3 | 82,4 | |
| 4 | 82 | |
| 5 | 80,6 | |
| 6 | 80,2 | |
| 7 | 80,2 | |
| 8 | 79,8 | |
| 9 | 79,7 | |
| 10 | 79,5 | |
| 11 | 79,2 | |
| 12 | 77,8 | |
| 13 | 76,8 | |
| 14 | 76,5 | |
| 15 | 75,2 | |
| 16 | 74,8 | |
| 17 | 72,5 | |
| 18 | 72,3 | |
| 19 | 72,2 | |
| 20 | 71,5 | |
| 21 | 71,3 | |
| 22 | 71,3 | |
| 23 | 71,2 | |
| 24 | 71,1 | |
| 25 | 71 | |
| 26 | 70,8 | |
| 27 | 70,4 | |
| 28 | 70,3 | |
| 29 | 70,2 | |
| 30 | 70 | |
| 31 | 69,7 | |
| 32 | 69,2 | |
| 33 | 69,2 | |
| 34 | 69 | |
| 35 | 68,7 | |
| 36 | 68,6 | |
| 37 | 68,5 | |
| 38 | 68,3 | |
| 39 | 68,3 | |
| 40 | 68,1 | |
| 41 | 67,9 |
The Heritage Foundation (http://www.heritage.org/index/)


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