Carl Schramm, President of the Kauffman Foundation, examines the vital role of entrepreneurship in the changing economy. He emphasizes how entrepreneurs have a positive influence on the American economy by creating ways to reinvent and innovate the rules of life. For example, half of the jobs created in 2007 are from firms less than five years old. Entrepreneurs teach us about human needs we did not know existed, create jobs that provide security for people, and generate social welfare, he says.