The Entrepreneurial State

The Entrepreneurial State

Debunking Public Vs. Private Sector Myths

Book - 2013
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This 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, 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 Yea' 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.

Publisher: London :, Anthem Press,, 2013
ISBN: 9780857282521
Branch Call Number: 338.04 MAZ
Characteristics: xxv, 237 pages : illustrations ; 22 cm

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StarGladiator
Jan 30, 2015

In all honesty I only skimmed this book, as I had already read, individually, many of the points the author so cogently makes and justifies. Anyone familiar with the history of technology, both globally and in North America, realizes the author is on target. It would take a month to recount all the tech advances just out of the NASA space program!

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