"In this book economist David B. Audretsch identifies the positive, proactive response to globalization - the entrepreneurial society, where change is the cutting edge and routine work is inevitably outsourced. Under the managed economy of the cold war era, government policies around the world supported big business, while small business was deemed irrelevant and largely ignored. The author documents the fundamental policy revolution under way, shifting the focus to technology and knowledge-based entrepreneurship, where start-ups and small business have emerged as the driving force of innovation, jobs, competitiveness, and growth. The role of the university has accordingly shifted from tangential to a highly valued seedbed for coveted new ideas with the potential to create not just breathtaking new ventures but also entire new industries. By understanding the shift from the managed economy and the emergence of the entrepreneurial society, individuals, businesses, and communities can learn how to proactively harness the opportunities afforded by globalization in this new entrepreneurial society."--BOOK JACKET.