Trust: Creating the Foundation for Entrepreneurship in Developing Countries

A Harvard Business School professor and international entrepreneur explains the crucial ingredient for success in the developing world.

Entrepreneurial ventures often fail in the developing world because of the lack of something taken for granted in the developed world: trust. Over centuries the developed world has built up customs and institutions like enforceable contracts, an impartial legal system, credible regulatory bodies, even unofficial but respected sources of information like Yelp...