The Relationship between Entrepreneurship and Inequality

One of the ways the inequality gap has widened is through a concentration of wealth among a small subset of the population. No matter how you look at it, whether it’s through income quintiles or the top 1%, gains have been made by those at the top and a greater percentage of overall wealth is now in their hands than was the case in the immediate post-World War II period. This concentration perpetuates itself, asindividuals and families who start out with less wealth to build on often fail to climb the economic ladder.  This is why entrepreneurship can be so powerful a force that breaks through these constructions that concentrate wealth. One of the fundamental characteristics of entrepreneurship is a sense of egalitarianism. In an ideal world, anyone can and does have the ability to strike out on their own and start a business. It doesn’t require a degree, nor a minimum number of hours to become an entrepreneur. Entrepreneurship is supposed to be open, a career where anyone can be successful and financial success is based upon the value the business generates.