Not everyone is an entrepreneur. Still, everyone should try—if only once—to start a business. After all, it is small and medium enterprises that are the key to job creation. There is also something uniquely educational about sitting at the desk where the buck stops, in a dreary office you’ve just rented, working day and night with a handful of employees just to break even. As an academic, I’m just an amateur capitalist. Still, over the past 15 years I’ve started small ventures in both the U.S. and the U.K. In the process I’ve learned something surprising: It’s much easier to do in the U.K. There seemed to be much more regulation in the U.S., not least the headache of sorting out health insurance for my few employees. And there were certainly more billable hours from lawyers.
I am not quite sure about his assertion about the UK being so much freer, but I get the general point. By the way, I have just returned from a week in Singapore, and the pro-capitalist vibe there is so strong you could almost put in a bottle. (Actually they do: you go to the bar at Raffles Hotel, natch.)