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With all the news about Silicon Valley startups, you could get the idea that entrepreneurship is thriving in the United States.

The reality is U.S. entrepreneurship has been in a pretty steep decline for 30 years. The Next Idea team got to wondering about that. So, we asked Stewart Thornhill to write an essay about entrepreneurship. He’s a professor who teaches entrepreneurship at the University of Michigan.

Image: Credit xianrendujia / Flickr