Page 37 - 1-Entrepreneurship and Local Economic Development by Norman Walzer (z-lib.org)

26 Brian Dabson

analysis has been the subject of considerable debate, but there are some
useful specific contextual implications for U.S. entrepreneurship develop-
ment.
In considering how American workers and communities can prepare for
and withstand the impact of increasing global competition on their eco-
nomic opportunities, Friedman (2005) has identified three categories of
people who will be largely protected from outsourcing of their jobs and fu-
ture job prospects: (1) specialized workers are knowledge workers whose
skills are in high demand and hard to replicate; (2) anchored workers are
those who are tied to a specific location and who rely on face-to-face con-
tacts with customers, clients, and patients; and (3) adaptable workers, who
are able to change as jobs change and who accordingly acquire new skills.
This emphasis on knowledge and adaptability tracks well with entrepre-
neurial skills and underscores the point that entrepreneurship can be both
a strategy for survival in, and for grasping opportunities that may arise
from, the disturbances that are associated with a flattening world. An inter-
esting point about anchored workers is that Friedman seems to be ac-
knowledging that place does still have relevance and meaning in the global
economy.

Regional Competitiveness as Economic Driver
But how does place play out in entrepreneurship development policy? As
the debates have raged about the costs and benefits of global trade, it has
become apparent that the distribution of its consequences and opportuni-
ties is not evenly spread, and that approaches to economic development
must reflect this new reality. The essence of these new approaches is that
economic regions are now the basic unit of global competitiveness, that
competitiveness is founded on the identification and leverage of a unique
combination of regional assets, and that innovation and entrepreneurship
are the keys to translating these regional assets into global competitiveness.
An advisory committee appointed by the U.S. Secretary of Commerce re-
cently reported its findings on the federal role in economic development.
The committee’s review of the evolution of economic development during
the past half-century and of the forces that are currently shaping local and
national economies concluded that “In the 21st century, America’s com-
munities will derive economic strength by acting regionally to compete
globally. Innovation and entrepreneurship are the new engines for job cre-
ation, productivity, growth, economic prosperity, and healthy communi-
ties” (Strengthening America’s Communities Advisory Committee 2005, 8).
A 2001 Council on Competitiveness report prepared by Michael Porter
(2001) suggested that thinking on regional competitiveness was undergo-
ing a significant transition. In many regions, the emphasis still focused on