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Books > Business & Money > Economics > Economic Policy & Development > 069114219X
  1. Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed--and What to Do About It (The Kauffman Foundation Series on Innovation and Entrepreneurship)
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  2. Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed--and What to Do About It (The Kauffman Foundation Series on Innovation and Entrepreneurship)

    Delivery: 10-20 Working Days
    Customer Ratings (17 reviews)
    Price R218.00

Additional Information

Silicon Valley, Singapore, Tel Aviv--the global hubs of entrepreneurial activity--all bear the marks of government investment. Yet, for every public intervention that spurs entrepreneurial activity, there are many failed efforts that waste untold billions in taxpayer dollars. When has governmental sponsorship succeeded in boosting growth, and when has it fallen terribly short? Should the government be involved in such undertakings at all? Boulevard of Broken Dreams is the first extensive look at the ways governments have supported entrepreneurs and venture capitalists across decades and continents. Josh Lerner, one of the foremost experts in the field, provides valuable insights into why some public initiatives work while others are hobbled by pitfalls, and he offers suggestions for how public ventures should be implemented in the future.

Discussing the complex history of Silicon Valley and other pioneering centers of venture capital, Lerner uncovers the extent of government influence in prompting growth. He examines the public strategies used to advance new ventures, points to the challenges of these endeavors, and reveals the common flaws undermining far too many programs--poor design, a lack of understanding for the entrepreneurial process, and implementation problems. Lerner explains why governments cannot dictate how venture markets evolve, and why they must balance their positions as catalysts with an awareness of their limited ability to stimulate the entrepreneurial sector.

As governments worldwide seek to spur economic growth in ever more aggressive ways, Boulevard of Broken Dreams offers an important caution. The book argues for a careful approach to government support of entrepreneurial activities, so that the mistakes of earlier efforts are not repeated.

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Most Helpful Customer Reviews

"How can we become more like the Silicon Valley?" Policy makers and civic-minded entrepreneurs across the world spend countless hours on the question and taxpayers spend billions billions on resulting projects. This book documents the record of failure for most of those efforts and provides a fundamental lesson that caution and skepticism should permeate any discussion about them. But those who look to this book for more -- for concrete guidance about what will work -- will find, unfortunately, another broken dream.

Harvard Business School professor Josh Lerner starts with a warning: "For each effective government intervention, there have been dozens, even hundreds, of failures, where substantial public expenditure bore no fruit." Lerner proceeds with a narrative of failures and successes from around the world. Malaysia, France, Norway, Iowa, New York City and others each had failed initiatives either small or large that Lerner describes. Singapore, Tel Aviv and Silicon... Read more
I've talked to government officials in Chile, Finland, Russia and Singapore about public funding strategies to create entrepreneurial clusters. Therefore I really wanted to like this book. It has a lot going for it. Lerner has researched an exhaustive list of government attempts to kick-start entrepreneurship and venture capital. Unfortunately the book was an unsatisfying read. It seemed like an extended set of research notes struggling for a conclusion.

The first two chapters had me really confused. The introduction rambled and after reading it twice I still wasn't clear what the point of the book was. Chapter 2, "A Look Backwards" was directionally correct, but it telegraphed the same set of vagueness that the rest of book would have. It was only by the time I got to chapter 3, "Why Should Policymakers Care?" that I finally understood Lerner was grappling with the question, "whether government policy could help entrepreneurs."

The best part of the book was... Read more
The subtitle summarizes the book nicely - Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed-and What to Do About It. As I continue to grind through writing Startup Communities: How To Create An Entrepreneurial Ecosystem In Your City, I'm trying to maintain a steady diet of complementary books. Lerner does a good job of dissecting government efforts and involvement around the stimulation of entrepreneurship and does a thorough job. This is a negative leaning book, but there is some positive and constructive stuff in it.
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