Here we have a great research piece from the Chicago Booth Report on the propensity of younger citizens to respond to the change in the prices of goods, commodities, and other trends in the economy. The analytics of this research study, conducted on Brazilian entrepreneurs who quickly start companies to capture sudden spikes in demand, bear that out!
As the study states, ‘these “responsive entrepreneurs” tend to be younger and more skilled than typical new business owners and may play an important role in sustaining dynamic economies and prolonging economic expansions’.
Perhaps the findings can help sustain economic growth and prolong economic expansions in the U.S.
How do the results of this study apply to a situation like the aging demographic prevalent in the U.S. economy? What do you think- are younger or older people more likely to start a new company when opportunity strikes in the U.S. economy? Are new startups launched quickly or do they take a lot of time to plan before opening? Has any of this changed since the pandemic? Let me know… and enjoy this piece!
~ Brian Kasal- The Leadership Matrix
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