There’s a paper out in the latest Journal of Economic Perspectives by Decker, Haltiwanger, Jarmin, and Miranda (DHJM) on “The Role of Entrepreneurship in US Job Creation and Economic Dynamism“. They document, in more detail than an earlier Brookings report I talked about recently, that the proportion of firms that are “young” has declined over the last 30 years.
DHJM use the number of young firms – those less than 5 years old – as a proxy for entrepreneurship. And therefore the conclusion is that entrepreneurship has declined over the last 30 years. You can see this in their figure 4, below. In 1982, for example, roughly 50 percent of all firms were less than 5 years old, while by 2011 only about 35 percent of firms were under 5 years old. Similarly, the share of total employment in young firms fell from about 18 percent in…
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Utopia, you are standing in it! 
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