Business Lifecycle - Need For New Businesses
The previous section explained how existing businesses produce the things we want. The next question to answer is how new businesses get started. The economy needs to be able to adapt to changing technology and consumer tastes. We can’t rely on the current complement of businesses to meet our needs for all time. For the economy to remain vibrant, businesses that no longer meet our needs need to be allowed to fail. New businesses need to be created continually to take their place. With businesses operating on a not-for-profit basis, public financing is needed. Here is how it could work.
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