Report: Regulation stands in the way of entrepreneurship for low-income families [Audio]
In October 2019, the Pacific Research Institute released findings of a new report, titled Breaking Down Barriers to Opportunity #2 Entrepreneurship as a Pathway to the American Dream. The report, authored by Wayne Winegarden, contends that “overly complex government regulations are a common cause behind the barriers to low-income entrepreneurship.”
Winegarden spoke with St. Pete Catalyst publisher Joe Hamilton regarding the findings of his report and why low-income entrepreneurship is not thriving in the United States.
First, Winegarden explains the problem – the failure to alleviate poverty. “How do we sustainably reduce poverty in this country?” Winegarden asks. “Ever since President Johnson declared war on poverty in 1965, the poverty rate has been hovering around 13 percent. Low during good times, higher during bad times, but we haven’t sustainably brought down the poverty rate.”
Winegarden’s solution? The American Dream. “The traditional American Dream is all about starting business, entrepreneurship, and so we wanted to connect that,” he said. “How can we use entrepreneurship to grow the pie, and grow the pie in a way that everyone is benefitting, particularly low-income families and households.”