There is a growing trend among universities to devote resources to studying entrepreneurship. This trend is primarily focused in the business and engineering departments, but it is spreading inexorably across campus. It seems as if everyone wants to create a new class of entrepreneurs. This impulse is understandable; after all, if you are the university that graduates the founders of the next Google, there are big donations in your future.
But this focus on entrepreneurship doesn’t come without costs. Universities generally don’t have limitless budgets, so if increased resources are flowing to entrepreneurship studies, that means resources aren’t flowing into other departments. At my alma mater, Stanford University (see below), our alumni magazine seems to be constantly writing about new initiatives to train entrepreneurs, but it almost never talks about a new program in English or history. I think that universities’ movement toward entrepreneurship has gone too far.
Not that entrepreneurship is a bad thing. If people want to start companies, that’s great. I’m happy that companies like Google exist. And Amgen, and Hewlett-Packard, and even General Electric, all of which were started by entrepreneurs. But notice that none of those companies were started by people who had studied entrepreneurship. In fact, they were all started before this trend in teaching entrepreneurship had even begun. It’s not as if this country had a serious lack of entrepreneurs before universities started training them.
But more important to me is the fact that there is more to a university education than just training for a future job, whether as an entrepreneur or engineer or ethicist. College is also about producing well rounded people, who can analyze life in a variety of ways, who are prepared to be good citizens of their country. And I’m not the only one who thinks that way. Thomas Jefferson founded UVA with the goal of “elevating the views of our citizens generally to the practice of the social duties and the functions of self-government.” John Adams thought that education was so important that he put it in the Massachusetts constitution:
Wisdom, and knowledge, as well as virtue, diffused generally among the body of the people, being necessary for the preservation of their rights and liberties; and as these depend on spreading the opportunities and advantages of education in the various parts of the country.
If people want to start companies, they will certainly do so. They always have. So let’s not waste their four years of college making them “better entrepreneurs,” as if we even know what that is. Let’s just make them smart, well-educated people, and the entrepreneurship will inevitably follow.