Steve King of Small Biz Labs picked up this quote from NYU economist William Baumol, interviewed by the International Herald Tribune:
This entry was posted on Monday, January 7th, 2008 at 4:51 am and is filed under startup stories. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.The other factor, Baumol said, has to do with where entrepreneurs find the best opportunities. He quoted Willie Sutton, the American criminal who said he robbed banks because that’s where the money was.
“The entrepreneurs do the same; they are neither paragons of virtue, nor devils incarnate; they go where the opportunities are,” Baumol said. “In countries where the best opportunities are bribery in becoming a bureaucrat with power to extract funds, or to become a warlord, they will do it!
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