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The concept of the entrepreneurial state proposes that governments—like private enterprises—can take risks, innovate, and drive economic growth. Through direct intervention, governments can strategically invest in sectors that hold promise for the future, aiming to spark productivity and economic expansion. However, in countries like Jamaica, the limitations of the entrepreneurial state are evident, as interventions often face economic realities and public sentiment that clash with the expectations of the private sector. Jamaica’s challenges with state-owned enterprises, regulatory bodies, and education policy reveal that government-led initiatives can only rearrange and stifle, rather than stimulate, economic potential.
Yes, another myth exploded by reality! The state cannot handle any of the risk entailed in entrepreneurship because, once again, the bureaucrats have no skin in the game so they cannot properly assess the risk. This is not rocket science, is it?