Changes

==Defining "Article=====Introduction===The American perception of entrepreneurship and innovation is an overwhelmingly positive one; Americans believe not only that there are good opportunities for starting a business, but also that they have the capabilities to start one themselves. [http://www.forbes.com/sites/elainepofeldt/2013/05/27/u-s-entrepreneurship-hits-record-high/#7144d97d73aa] The Global Entrepreneurship Monitor U.S. Report found that 43% of Americans believe there are good opportunities for entrepreneurship, and that 56% of American adults believe they have the capability to start a business. [http://www.babson.edu/news-events/babson-news/PublishingImages/babson-gem-info-graphic-692.png] But recent trends in business birth and death rates tell a more sinister story. Many studies report sustained declines in entrepreneurship and business dynamism across the 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%20Kauffman] Though many Americans view the high -tech sector as the pinnacle of entrepreneurship and innovation [http://blogs.wsj.com/washwire/2014/05/06/snowden-effect-americans-still-like-tech"==-industry-but-not-telecom/], the Kauffman Foundation found the declines in business dynamism that occurred broadly across the U.S. economy over the past two decades also 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 STEM occupations of science, technology, engineering, 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 cause the decline of business dynamism in high technology sectors, and the impacts of this slowdown on economic growth.

'''High tech''': a high-tech industry is defined by the presence ===Cause of four factors: a high proportion of scientists, engineers, and technicians; a high proportion of R&D employment; production of high-tech products, as specified on a Census Bureau list of advanced-technology products; and the use of high-tech production methods, including intense use of high-tech capital goods and services in the production process [http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/02/declining_business_dynamism_in_us_high_tech_sector.pdf Kauffman]decline===

A Congressional Office During the period of Technology Assessment document describes aggregate productivity and job growth in the 1990s, the high-technology firms as those “engaged tech sector and newly listed public companies exhibited increases in indicators in the designdynamism and entrepreneurship. However, developmentsince 2000, the high tech sector and introduction publicly traded firms have exhibited a decline in dynamism. The number of new products IPOs has fallen in the post-2000 period andthose that have entered have not exhibited the same rapid growth as earlier cohorts. [http:/or innovative manufacturing processes through the systematic application of scientific and technical knowledge/econweb.umd.edu/~haltiwan/Haltiwanger_Kauffman_Conference_August_1_2015.”pdf]

National Science Foundation report on science and technology resources also refers to Why the employment of scientists, engineers, and technicians and decline? The primary challenge start-ups in general face is access to measures of R&D activities as “two capital. Only 29 percent of small business owners said they’ve applied for a business loan over the most important parameters of innovation” last two years. Millennials report turning to friends and uses those two parameters “as surrogates family for measuring the broader concept of innovationloans, 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. A [http://papers.ssrn.com/sol3/papers.” ''Which of these is best definitioncfm?'' ==High tech and firm birth/death=abstract_id=Kauffman 2417676 study ] from Penn State University found that decline "a significant and economically meaningful negative correlation between changes in business dynamism occurred in both student debt and net new businesses employing one to four employees, the general U.Sfirms most dependent on personal debt for financing. economy " 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 comfortable making advances in technology older members of the postworkforce do not. [https://www.pwc.com/gx/en/managing-tomorrows-people/future-2000 period. As part of this decline in dynamism, Kauffman found indicators of a slowdown in entrepreneurship in the high-tech sector in work/assets/reshaping-the post-2000 periodworkplace. ==Article==pdf]

===Target Audience===*Geared towards Rice Thresher, Houston Chronicle? Layman who The overwhelmingly large presence of millennials has an interest contributed to the decline in business dynamism particularly in high-tech sectors because these members do not have the intersection of technology and means or desire to finance a small businessgiven that they are often saddled with debt from college.*Q: should I make it a research article, or more engaging?

===Defining termsImpacts===high tech: You know it when you see it - it's Apple's iPhone 6S, Amazon Prime's 1 hour product delivery, it's a minute computer chip with blinking lights and beeping buttons.

One While student debt is used to fund increases in human capital (education), the utilization of the best definitions student debt reduces an individual's ability to access other forms of "high tech" comes from the [http://wwwcredit.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/02/declining_business_dynamism_in_us_high_tech_sector.pdf Kauffman Institute]As a result, which defines the study's findings suggest a highdebt trade-tech industry by "the presence off in which larger amounts of four factors: student debt lower an individual's ability to start a high proportion new business. Penn State's study found that an increase of scientists, engineers, and technicians; one standard deviation in student debt uses results in a high proportion of R&D employment; production decrease of high-tech products70 new small businesses per county, as specified on a Census Bureau list decline of advanced-technology products; and the use of high-tech production methods, including intense use of high-tech capital goods and services in the production processapproximately 14.4%.[http://poseidon01.ssrn.com/delivery." php?ID=250070119116011113124099103112018099029051017051045044067089002120116105111114122091055102119102108111124001067027106101088127010005061051067105078103112127022029065052114071094113003125125064112116102099068082028078069030125114010072077114106025&EXT=pdf]

Business ===Conclusion===Millennials and recent college graduates comprise a large majority of those with interest in the high technology workforce. Because their access to capital is limited both institutionally and due to high levels of student debt, many of 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 dynamism: in high technology fields to the dynamic process tune of a decrease of firms entering and exiting 70 small businesses per increase in standard deviation in student debt. It 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 economytrend.