It takes money to make money, right?
The old adage may hold in the financial markets, but when it comes to starting a business, it rings hollow, says Erik Hurst, a 33-year-old associate professor of economics at quant haven University of Chicago’s Graduate School of Business. In a recent paper, Hurst, along with colleague Annamaria Lusardi of Dartmouth, splashed cold water on the purported correlation between wealth and entrepreneurship. And the two have plenty of numbers to back up their claims.
via David Lorenzo.