It's the Entrepreneurs, Stupid!

Rich Karlgaard of Forbes in his article It's the Entrepreneurs, Stupid! blames the lack of entrepreneurs for the woes of Europe. While I do agree that life is tough for an entrepreneur in Europe being one myself, I don't think there is a lack of entrepreneurial spirit in Europe. At least here in Catalonia the regional government has done a lot to encourage entreprenuers and that has produced at least some results. The most limiting factor in my view is the intolerance of failure and the social stigma attached to it. This risk averse nature and intolerance to losses is probably the most important factor why in Europe we don't see an entrepreneurial culture similar to USA.