The Entrepreneurial State

The Entrepreneurial State

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This new bestseller from leading economist Mariana Mazzucato a€“ named by the a€˜New Republica€™ as one of the a€˜most important innovation thinkersa€™ today a€“ 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 Statea€™s role in the a€˜green revolutiona€™, 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 a€˜smarta€™ 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 Statea€™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 a€˜2013 Books of the Yeara€™ by the a€˜Financial Timesa€™ and recommended by a€˜Forbesa€™ in its 2013 a€˜creative leadersa€™ list, this book is a must-read for those interested in a refreshing and long-awaited take on the public vs. private sector debate.And the point is that Apple understood this game: creatively pioneering the field of consumer electronic dreams by stepping up ... On the other hand, employees not only do not expect to develop a lifelong career in a single enterprise, but highly value the benefits of interfirm mobility. ... declining manufacturing and job creation in the US, and critiques of its overseas manufacturing and production activities.

Title:The Entrepreneurial State
Author:Mariana Mazzucato
Publisher:Anthem Press - 2013-06-10


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