An Entrepreneurial Generation?
By Arnold Kling
Half of all new college graduates now believe that self-employment is more secure than a full-time job. Today, 80% of the colleges and universities in the U.S. now offer courses on entrepreneurship; 60% of Gen Y business owners consider themselves to be serial entrepreneurs, according to Inc. magazine. Tellingly, 18 to 24-year-olds are starting companies at a faster rate than 35 to 44-year-olds. And 70% of today’s high schoolers intend to start their own companies, according to a Gallup poll.
I’m all for entrepreneurship, but I wonder if these high school students aren’t being a bit unrealistic. My guess is that only a fraction of high schoolers who hope to make a living in popular music or sports will actually do so. They may have a similarly skewed outlook on entrepreneurship.
My sense is that young people do not want to work in large organizations. Working in the bowels of a government agency is nearly unthinkable to them.
You would think that entrepreneurial ambitions and dislike of bureaucracy would translate into support for smaller government. But that does not show up in the aggregate.