Instead, you will sometimes see entrepreneurs who are a little bit on the shaky side. That difference is a critical concern in Eastern Europe and Africa. On an optimistic note, I think that entrepreneurship is going to be the most important economic driver in a lot of countries. The U.S. will continue to serve as a very powerful and convincing role model with its transparent capital markets, stable legal system, innovative scientific and university systems, tolerance for income disparity, and culture that rewards people who pursue opportunities after assessing the risks. The bar is higher, not just regarding the language but also regarding exposure to a totally different environment.
Most countries still lack competent entrepreneurial faculties.
We're all struggling to define entrepreneurship. Everybody acknowledges its impact, but how to teach and research it, that's the challenge. There's a dire worldwide need for entrepreneurial education, which isn't going to be addressed that quickly. For one thing, European and Asian universities are resistant to change. This inertia on their part makes HBS very attractive to international students.