Why Are Macroeconomics Are Entrepreneursive?

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WHY HAS THE IDEA THAT ENTREPRENEURS ARE THE DRIVERS OF ECONOMIC GROWTH BEEN SO ATTRACTIVE?

Macroeconomics – a study of large scale general factors of economics – states that innovation brings in economic growth. Economic growth is an increase in the capacity of an economy to produce goods and services, from one time period to another. It is usually measured in terms of GDP or GNP. Entrepreneurs are the risk takers, the innovators who set up new businesses and take financial risks in an aim of profit making. Entrepreneurs are actually the innovators, the ones who bring in out of box ideas and transform the methods into new ways. These innovators create about 50% of the economic growth because establishment of new business creates more jobs and improves economic conditions.
Nowadays, innovation is one major aspect that has all the characteristics of an economy. Some years back, the word innovation was the most unknown and not understandable but now innovation itself is a concept that

Different events such as business plan competitions, entrepreneurship week and awards are done which is making entrepreneurship a known term. The myths about successful entrepreneurs have promoted creation of ideas leading to a misconception that entrepreneurship creates economic growth. Most of the developing South East Asian countries do not support the idea that economic growth is created by innovation. Entrepreneurship is more about survival and subsistence, than growth and grandeur. Different thinkers have different stands over the role of entrepreneurship in a developing country. To understand the reasoning behind why entrepreneurship does not add to economic growth we should understand the opportunities that people exploit the