Entrepreneurial Economics

I have two claims about entrepreneurial economics.

1. Entreprenurial economics at its core is not too much more than a set of informal economies that are eventually adopted into the macroeconomy.
This is why we can talk about entrepreneurs functioning within big companies (even though its rare).

2: The strength of the American economy isn't in it's indomitable entrepreneurial spirit. Rather, it is in America's rapid adoption and nurturance of the informal economies.
The recession of the early 90's forced enough people out of the formal economy to lay the grounds for the tech boom. The dot-com bubble recession set up the information boom that hasn't quite been assimilated yet (dominance of social networks, craigslist, blogging).


If you look at the creative ways of banking that are being used in the third world (cell phone money transfers, microlending), you see these creative ways of harnessing an informal economy (telephone calls, loaning bikes) that existed previously (but were not in the larger economy).

We see that globalization is causing international economic barriers to collapse. The rapid infusion of informal economics (insert catchy name here) is causing local economic barriers to do the same.

As we move through a new recession, it will be interesting to see what the informal economies that spring up will be. What will our new economies be? How will we include them in the macroeconomy?