Entrepreneurship economic development and quality of life in third-world countries

This article deals with perhaps the greatest problem of our time, the ever increasing world's neglected and ignored poor. I argue here that economic development can be cultivated by endogenously from the bottom up (implemented through entrepreneurship) and that the economic output to be exported globally. Unique characteristics of entrepreneurs and their contribution to the economy can make it possible for third world countries to grow their economies faster and provide economic means to enhance social, health, and environmental well-being (basic dimensions of quality of life), along with products and services that the poor need in these countries. Developing countries need to develop entrepreneurial cultures for economic growth and enhanced quality of life. But, sheer presence and positive performance is not totally adequate since the above mentioned dimensions are only necessary but not sufficient conditions. © 2009 Springer Science+Business Media B.V./The International Society for Quality-of-Life Studies (ISQOLS).