The U.S. is confronting two major challenges. The first is the declining rate of entrepreneurship, captured by the loss in business dynamism, and the second is the high levels of unemployment, particularly long-term unemployment. What happened to startup rates and entrepreneurship over the recession? The Kauffman Foundation reports that startup density, which measures the number of new startups per 100,000 people, has fallen from 179.8 in 2007 to 130.6 in 2015. This suggests that we are still well below pre-recession levels. Further, the Bureau of Labor Statistics reports that 8.7 million workers remain unemployed, and 2.5 million of them have been unemployed for more than 26 weeks.
Is there a way to tackle low entrepreneurship rates and high unemployment rates by using a policy that addresses both challenges?
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