5. Figure 2.6 displays the idea that entrepreneurship has more impact and creates more value in an innovation-driven economy compared to the two earlier stages (the factor- and efciency-driven stages); that is to say that entrepreneurship creates more value in a modern economy than ever before.

What do you think is the line of thinking behind this suggestion? How can one argue for that position? Do you agree or disagree? What are the arguments for and against?