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Using institutional theory, the Heritage Foundation/Wall Street Journal 2003 Index of Economic Freedom, and the 2002 Global EntrepreneurshipMonitor, we regress opportunitymotivated entrepreneurial activity (OME) and necessity-motivated entrepreneurial activity (NME) on 10 factors of economic freedom and gross domestic product (GDP) per capita for 37 nations. We find that both OME and NME are negatively associated with GDP per capita and positively associated with labor freedom, but that various other factors of economic freedom are uniquely related to either OME or NME. Specifically, we find that OME, but not NME, is positively associated with property rights, while NME, but not OME, is positively associated with fiscal freedom and monetary freedom. Thus, governmental restrictions of economic freedom appear to impact entrepreneurial activity differently depending on the particular freedom restricted by government and the entrepreneur's motive for engaging in entrepreneurial action.

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As we end our respective tenures as editors of Entrepreneurship Theory & Practice (ET&P; D. Ray Bagby, 33+ years), Family Business Review (FBR; Pramodita Sharma, 9 years), and Journal of Business Venturing (JBV; Dean Shepherd, 8 years), we reflect on our preconceptions about journal publishing as we came into the job, lessons we learned along the way, and the changes we observed in our field. We end this editorial with some thoughts of our expectations for the future of entrepreneurship and family business studies.

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