Changes

==Defining "high tech"Article=====Introduction==='''High tech''': The American perception of entrepreneurship and innovation is an overwhelmingly positive one; Americans believe not only that there are good opportunities for starting a high-tech industry is defined by business, but also that they have the presence of four factorscapabilities to start one themselves. [http: a //www.forbes.com/sites/elainepofeldt/2013/05/27/u-s-entrepreneurship-hits-record-high proportion /#7144d97d73aa] The Global Entrepreneurship Monitor U.S. Report found that 43% of scientists, engineersAmericans believe there are good opportunities for entrepreneurship, and technicians; that 56% of American adults believe they have the capability to start a high proportion of R&D employment; production of highbusiness. [http://www.babson.edu/news-events/babson-news/PublishingImages/babson-tech products, as specified on a Census Bureau list of advancedgem-technology products; and the use of highinfo-tech production methods, including intense use of highgraphic-tech capital goods 692.png] But recent trends in business birth and services death rates tell a more sinister story. Many studies report sustained declines in entrepreneurship and business dynamism across the production process U.S. economy. [http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/02/declining_business_dynamism_in_us_high_tech_sector.pdf Kauffman%20Kauffman] A Congressional Office of Technology Assessment document describes Though many Americans view the high-technology firms tech sector as those “engaged in the design, development, and introduction pinnacle of new products entrepreneurship andinnovation [http://blogs.wsj.com/washwire/2014/05/06/snowden-effect-americans-still-like-tech-industry-but-not-telecom/or innovative manufacturing processes through ], the systematic application of scientific and technical knowledgeKauffman Foundation found the declines in business dynamism that occurred broadly across the U.S.” National Science Foundation report on science and technology resources economy over the past two decades also refers to occurred in the high-tech sector in the post-2000 period (high-tech sector being defined as the group of industries with very high shares of workers in the employment STEM occupations of scientistsscience, technology, engineersengineering, and technicians and math). [http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/02/declining_business_dynamism_in_us_high_tech_sector.pdf%20Kauffman] This article aims to ask what happened in the American economy to measures of R&D activities as “two of cause the most important parameters decline of innovation” business dynamism in high technology sectors, and uses those two parameters “as surrogates for measuring the broader concept impacts of innovationthis slowdown on economic growth.”

''Which ===Cause of these is best definition?''decline===

==High tech During the period of aggregate productivity and firm birth/death==Kauffman study found that decline in business dynamism occurred job growth in both the general U.S. economy and 1990s, the high-tech sector and newly listed public companies exhibited increases in the post-2000 period. As part of this decline indicators in dynamismand entrepreneurship. However, since 2000, Kauffman found indicators of a slowdown in entrepreneurship in the high-tech sector and publicly traded firms have exhibited a decline in dynamism. The number of IPOs has fallen in the post-2000 periodand those that have entered have not exhibited the same rapid growth as earlier cohorts. [http://econweb.umd.edu/~haltiwan/Haltiwanger_Kauffman_Conference_August_1_2015. ==Article==pdf]

===Target Audience===*Geared towards Rice Thresher, Houston ChronicleWhy the decline? Layman who has an interest The primary challenge start-ups in general face is access to capital. Only 29 percent of small business owners said they’ve applied for a business loan over the intersection of technology last two years. Millennials report turning to friends and businessfamily for loans, rather than taking out a traditional loan from a bank. [http://newsroom.bankofamerica.com/sites/bankofamerica.newshq.businesswire.com/files/press_kit/additional/Fall_2014_Bank_of_America_Small_Business_Owner_Report.pdf] Millennials also have less access to personal capital in that they take on significant student debt when they go to college.*QA [http: should I make it //papers.ssrn.com/sol3/papers.cfm?abstract_id=2417676 study] from Penn State University found "a research articlesignificant and economically meaningful negative correlation between changes in student debt and net new businesses employing one to four employees, or the firms most dependent on personal debt for financing." Personal debt and lack of access to capital are particularly problematic in the high tech sector, where millennials compose a majority of the workforce and are more engaging?comfortable making advances in technology older members of the workforce do not. [https://www.pwc.com/gx/en/managing-tomorrows-people/future-of-work/assets/reshaping-the-workplace.pdf]

===Defining terms===The overwhelmingly large presence of millennials has contributed to the decline in business dynamism particularly in high -tech: You know it when you see it - it's Apple's iPhone 6S, Amazon Prime's 1 hour product delivery, it's sectors because these members do not have the means or desire to finance a minute computer chip small business given that they are often saddled with blinking lights and beeping buttonsdebt from college.

Business dynamism: While student debt is used to fund increases in human capital (education), the dynamic process utilization of student debt reduces an individual's ability to access other forms of firms entering and exiting credit. As a result, the economystudy's findings suggest a debt trade-off in which larger amounts of student debt lower an individual's ability to start a new business. Penn State's study found that an increase of one standard deviation in student debt uses results in a decrease of 70 new small businesses per county, a decline of approximately 14.4%.[http://poseidon01.ssrn.com/delivery.php?ID=250070119116011113124099103112018099029051017051045044067089002120116105111114122091055102119102108111124001067027106101088127010005061051067105078103112127022029065052114071094113003125125064112116102099068082028078069030125114010072077114106025&EXT=pdf]

===IntroConclusion===Forbes reports that 43% Millennials and recent college graduates comprise a large majority of Americans believe there are good opportunities for entrepreneurship, those with interest in the high technology workforce. Because their access to capital is limited both institutionally and that between 2008 and 2012due to high levels of student debt, 56% many of adults believed they had the capability these workforce participants are either unable or unwilling to take on more debt to start their own businesses. This has resulted in a decline in business. [http://www.babson.edu/news-events/babson-news/PublishingImages/babson-gem-info-graphic-692.png] These dynamism in high confidence levels show technology fields to the American perception tune of a decrease of entrepreneurship and innovation as being higher than 70 small businesses per increase in standard deviation in many innovation-driven economies. [http://wwwstudent debt.forbes.com/sites/elainepofeldt/2013/05/27/u-s-entrepreneurship-hits-record-high/#7144d97d73aa] It's clear that Americans believe there are good opportunities for starting a business and that they have seems as though increasing access to capital through easily accessible bank loans or implementing policy aimed towards lowering student debt would help to reverse the capabilities to start a businesstrend. But the