What are entrepreneurs really good for?

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Having analyzed roughly twelve years of empirical economic research, Mirjam van Praag and Peter Versloot say that entrepreneurs, apart from being good at creating jobs, bring joy to the workplace:

Entrepreneurs pay not only lower wages, but offer fewer benefits. However, apparently, entrepreneurs offer other intangible benefits to their employees because their employees are more satisfied with their (lower paid and less secure) jobs than the employees of their counterparts.

The analysis also includes the impact on innovation, productivity and growth, and utility.

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