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Economic inequality continues to contribute to political and social instability around the world. This instability stifles development and results in widening the wealth gap between the "haves" and "have nots," further eroding stability. It has been argued that entrepreneurship is a prime contributor to this vicious cycle. Using Entrepreneurship and Social Innovation to Mitigate Wealth Inequality contends that this is only true when the opportunity for entrepreneurship is limited to a few. The authors maintain that when entrepreneurship is open to anyone who is properly motivated, innovative, and has a goal of growth for their enterprise, it helps build wealth for a greater number of people. The concept of "social entrepreneurship" is introduced, where entrepreneurship becomes a vehicle for explicitly addressing community-based economic and social challenges using markets.

The book uses examples of entrepreneurial projects and programs that have attempted to address inequality to discuss entrepreneurship as an economic development strategy and its role in addressing the challenges of economic inequality. It advocates thinking and acting systemically, creating and sustaining entrepreneurial support ecosystems, in order to generate the synergy required to scale-up development and transform our economies and provides a distinctive perspective on a pressing social and economic issue, with significant implications for the future of the United States and the world.

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Acknowledgments

About the Authors

Introduction

1 Wealth Inequality: What is it? Why do We Care?

2 Growth and Development

3 The Rise of Entrepreneurship as an Economic Development Strategy

4 How Entrepreneurship Can Be Fostered in a Way That Mitigates Wealth Inequality

5 An Example from New York City: Competition THRIVE

6 An Example from Chicago: The West Side Business Xcelerator

7 An Example from Michigan: The MSU Product Center Food-Ag-Bio

8 An Example from Poland: The Warsaw Entrepreneurship Forum

9 Community Entrepreneurship: The Cases of the Lumber Enterprise in Ixtlan, Mexico and the Pubs of Rural Ireland

10 Social Entrepreneurship among Native Peoples of the Americas: A Model or an Exception?

11 Necessary but not Sufficient: Only Systemic Approaches Transform

Index

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Thomas S. Lyons, Roger E. Hamlin, Michigan State University; Amanda Hamlin, Oakton Community College

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