本文考察了英国创业发生率变化的原因和后果。在联合王国，按国际标准衡量，自营职业占就业总数的比例很高，但这一比例一直在波动。我们研究了自雇的时间序列运动，这主要是由金融自由化和税收规则的变化推动的，特别是当它们涉及到占主导地位的建筑业时。我们发现，个体经营者的收入中位数低于雇员。我们发现，与雇员相比，个体经营者更有可能是男性;移民;从事建筑或金融活动;当学徒;在伦敦工作;长时间工作; have high levels of job satisfaction and happiness. Consistent with the existence of capital constraints on potential and actual entrepreneurs, the estimates imply that the probability of self-employment depends positively upon whether the individual ever received an inheritance or gift. Evidence is also found that rising house prices have increased the self-employment rate. There appears to be no evidence that changes in self-employment are correlated with changes in real GDP, nor national happiness.