I was surprised to see a recent study by Ross Levine and Yona Rubinstein (Cal Berkley and London School of Economics) that demonstrated entrepreneurship pays better than working for a large company. Not because I don’t believe it to be true, but because prior studies were constructed so poorly as to come to the opposite conclusion.
These prior studies defined an entrepreneur as one who was self-employed. Not surprisingly, self-employed included a large number of people who were structurally unemployable, had lifestyle businesses, were full time students/part time chore runners or otherwise not meeting the definition which readers of this blog are likely to have about an entrepreneur (for definitions see Everyone’s Entrepreneur).
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