Saras Sarasvathy is known for having developed the concept of "effectuation", explaining how entrepreneurs make decisions and use their resources. The idea is that development is created through experience and changes along the way. On this matter the panel was in agreement. Though, Magnus Henrekson, IFN, threw in a disclaimer:
– Today people all too often start a business to get rich – to be winners. That in itself makes it harder to attract interested stakeholders. People that that will commit to the company and become co-creators in the way Saras Sarasvathy describes. Today, at least in Sweden, they realize that all profits go to the owner and they only get a petty wage, even though they have helped building the success.
– We need to teach people how to become stakeholders, said Saras Sarasvathy.
– That’s right, replied Magnus Henrekson, adding that at the same time we need taxation of stock options that allows employees to get a fair share of the success.
– But Sweden is intellectually still a collectivist country where we accept that a few are very rich, but the rest of us are expected to remain a wage earning proletariat, said Henrekson.
Swedish, Schumpeter Lectures are organized by the Entrepreneurship Forum (Entreprenörskapsforum).