Want Growth? Kill Small Businesses—Asterisk

This is the paradox of the poor and their businesses: They are energetic and resourceful and manage to make a lot out of very little. But most of this energy is spent on businesses that are too small and utterly undifferentiated from the many others around them.

The problem is that everybody who

While there are multiple paths to developing a nation, there are some strategies that have clearly been useful. The introduction of new technologies and training of skilled laborers can translate to increases in productivity. Foreign trade and inbound investments can be a real engine for these improvements. Countries that shift their economic focus

For a long time in the business world, the drive to become bigger was motivated by the pursuit of supply-side economies of scale[221]. As centuries of business have taught us, the bigger you are, the lower your marginal cost. Lowering unit costs is what economies of scale were all about. And yet economies of scale reach their limits soon enough. Co