Opinion: We’ll need more entrepreneurs if we want to grow at 3%

Center for American Entrepreneurship Fewer new businesses are being formed, and that’s bad for our economy. There was a lot of eye-rolling when President Donald Trump released his 2021 budget on Monday with its predictions for 3% growth for the foreseeable future. If only that were possible. An economy’s growth potential is circumscribed by the growth in the labor force and in productivity, or output per hour worked. Given the aging population and Trump’s anti-immigration stance, there is no chance that labor input will lift the economy from its current 2% trajectory to 3%. That leaves productivity, or the ability to produce more with less. If there is a free lunch in this world, it’s...