Carl Schramm, the President and CEO of the Kauffman Foundation discusses entrepreneurship at Cornell University

Carl Schramm, the President and CEO of the Kauffman Foundation,spoke to about 400 people on the Cornell campus as part of the Entreprenurship@Cornell speakers series, where he discussed the concept of "entrepreneurial capitalism" which he defines as a radically new economy brought about by a series of random occurrences in the early 1980s, such as the collapse of some of the country's top companies, the era of junk bonds and the ensuing creation of 401(K) plans to support workers and venture capitalism to create new businesses. Click here to see the text and video.