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Mariana Mazzucato - The Entrepreneurial State Debunking Public vs Private Sector Myths - Rocky_45

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Description

 							
  
  This new bestseller
from leading economist Mariana Mazzucato – named by the ‘New Republic’ as one of the ‘most
important innovation thinkers’ today – is stirring up much-needed debates worldwide about the role of the
State in innovation. Debunking the myth of a laggard State at odds with a dynamic private sector, Mazzucato reveals in
case study after case study that in fact the opposite situation is true, with the private sector only finding the
courage to invest after the entrepreneurial State has made the high-risk investments. Case studies include examples of
the State’s role in the ‘green revolution’, in biotech and pharmaceuticals, as well as several
detailed examples from Silicon Valley. In an intensely researched chapter, she reveals that every technology that makes
the iPhone so ‘smart’ was government funded: the Internet, GPS, its touch-screen display and the
voice-activated Siri. Mazzucato also controversially argues that in the history of modern capitalism the State has not
only fixed market failures, but has also shaped and created markets, paving the way for new technologies and sectors
that the private sector only ventures into once the initial risk has been assumed. And yet by not admitting the
State’s role we are socializing only the risks, while privatizing the rewards in fewer hands. This, she argues,
hurts both future innovation and equity in modern-day capitalism. Named one of the ‘2013 Books of the Year’
by the ‘Financial Times’ and recommended by ‘Forbes’ in its 2013 ‘creative
leaders’ list, this book is a must-read for those interested in a refreshing and long-awaited take on the public
vs. private sector debate. 						

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