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Cited by 1,027Entrepreneurship Studies and InfluencesEconomic Growth and ProductivityVocational and Entrepreneurial Education

Balanced Skills and Entrepreneurship

Lazear, Edward P·2004·American Economic Review
DOI 10.1257/0002828041301425
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Abstract

Entrepreneurs are generalists who put together teams of people and assemble resources and capital. To do this effectively, they must have a general set of skills. Individuals may be endowed with a general set of skills, but endowments can be augmented by investment in human capital. It is shown that formal schooling is used to supplement the skill set of those who choose to become entrepreneurs.

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Crossref · 10.1257/0002828041301425

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  • The nature of low-skilled workers' tasks (labor-intensive manual) and their insufficient managerial, technological, and entrepreneurial experience significantly reduce their likelihood of starting their own companies.

    “The nature of tasks typically performed by low-skilled workers, primarily labor-intensive manual tasks, coupled with insufficient managerial and technological skills (see Appendix B) and entrepreneurial experience (Lazear 2004), significantly reduce their likelihood of starting their own companies.”

    From Skill-Biased Technical Change, Again? Online Gig Platforms and Local Employment (2025) · cites this paper as Lazear 2004

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Authors
Lazear, E. P.
Affiliations
Hoover Institution (US)
Corresponding author
Lazear, Edward P
Venue
American Economic Review
Publisher
American Economic Association
Published
2004-04-01
Volume
94
Issue
2
Pages
208-211
ISSN
0002-8282 (ISSN-L)
DOI
10.1257/0002828041301425
OpenAlex
W2153014112
Cited by
1,027
References
0
Citations by year
2026: 32 · 2025: 48 · 2024: 42 · 2023: 50 · 2022: 74 · 2021: 59 · 2020: 77 · 2019: 59 · 2018: 61 · 2017: 65 · 2016: 48 · 2015: 39 · 2014: 69 · 2013: 59 · 2012: 49
FWCI
40.51
Type
journal article
Language
en
Open access
closed
Locations
  • American Economic Review (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
Topics
  • Social Sciences › Business, Management and Accounting › Management of Technology and Innovation › Entrepreneurship Studies and Influences
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
  • Social Sciences › Education › Vocational and Entrepreneurial Education
Keywords
entrepreneurship, human capital, formal education, skill endowments, team building, capital accumulation, entrepreneurial decision-making

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