The Effects of Subsidizing RD Projects - 1886 Words

The effect of startup businesses on economic wealth is a hot topic nowadays. Not everyone agrees with the current policies concerning entrepreneurship and its effect on innovation, job creation and economic growth. Shane is one of those people who clearly disagrees with current incentives given by the government (Shane, 2009). According to him, policy makers should no longer motivate typical start-ups by providing incentives to start a business like loans, subsidies and tax benefits. This namely attracts marginal entrepreneurs that have a relatively high chance of failure. Instead, policy makers should focus on the extraordinary entrepreneurs and help them by subsidizing RD projects at small companies. According to Shane, those funds are much more likely to contribute to economic growth and to create jobs. In this paper, I want to address this topic and investigate whether this really is the case. The research question that will be answered is: Is it possible for governments to â€Å"pick winners† to supply with RD subsidies and is this good policy? First of all, I will investigate whether it is possible to categorize entrepreneurs into ‘winners’ and ‘losers’ and subsequently I will analyze whether RD funds really contribute to economic growth and create jobs. Furthermore, I will comment on fairness problems and unfair competition that could arise when providing funds to elected firms only. Shane’s suggestion to improve current policies is to reallocate resources andShow MoreRelatedAdvising Patients On Deep Rooted Wellbeing Ideas That Incorporate Wellness, Nourishment And Way Of Life Changes Essay1292 Words   |  6 Pagessolution to treat hypertension which exceeds home state with given one-fifth. Diabetics have double the danger of death of any cause contrasted with people of the same age without diabetes. 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