Since the start of 2009, the U.S. unemployment rate has remained
above 8 percent. Policymakers have proposed addressing this
persistent joblessness through measures such as tax reform,
increased infrastructure spending, and the recently enacted JOBS
Act. Proponents argue the JOBS Act will encourage
entrepreneurship by reducing regulations for young firms and
expanding their financing options, while others are wary of
potential harm to investors. Entrepreneurship is a primary
contributor to job creation and sustainable economic growth, and
policies affecting innovation and startup financing have wide
ramifications. New firms are often responsible for disruptive
products and services that launch entirely new markets and spur
employment in high wage industries such as biotech and IT. High-
tech startups benefit from innovation clusters such as Silicon
Valley, which bring together leading firms, institutions, and
venture capitalists, and accelerate job growth in these regions.
How Does Entrepreneurship Drive Job G