Is entrepreneurship dying in America?

(g) I can now be boring on the goodole topic of economics and Schumpater and the theory of long cycles and innovation clusters. For the "cut to the chase" gang, these theories say that recessions occur at certain predictable levels and what's needed to bring us out of them is a cluster of innovations.

And that clusters of innovations fuel an economic boom. We've seen that in our own recent history, when the tech bubble roared ahead to fantastic proportions on the basis of the home computer. Just think of how many innovations are associated with that!

But the rush stagnated and things fell apart. Now (according to Schumpater's theories) we need a new cluster of innovations to get us all buying and wake up a new sector.

Entrepreneurship is still there and is doing fine if it's being managed with some sense. Enterpreneurship based on the "if you build it, they will come" theory is falling apart, however.

IMHO, of course. And Schumpater's (but he's dead, so he probably doesn't count!)