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American kids are raised on stories about Henry Ford, Andrew Carnegie, Bill Gates and Steve Jobs. The theme of these stories is that America is a place where people can take risks and reap the rewards. But a growing body of research suggests that America may not be the entrepreneurial powerhouse many think it is.
"The U.S. now ranks not first, not second, not third, but 12th among developed nations in terms of business startup activity," wrote Jim Clifton, CEO and president of polling company Gallup Inc., in a recent blog post on the state of entrepreneurship in America. Clifton is referring to an 2014 report from the Organization for Economic Cooperation and Development, which shows that when it comes to business startup rates, the United States is at the back of the pack.
So what happened?
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