The entrepreneurial state : debunking public vs. private sector myths / Mariana Mazzucato.

Format:

Book

Author/Creator:

Mazzucato, Mariana, 1968- author.

Language:

English

Subjects (All):

Entrepreneurship--Government policy.

Entrepreneurship.

Technological innovations--Government policy.

Technological innovations.

Research, Industrial.

Diffusion of innovations.

Physical Description:

xxvi, 260 pages : illustrations ; 22 cm

Place of Publication:

New York, New York : Penguin Books, 2024

Summary:

According to conventional wisdom, innovation is best left to the bold entrepreneurs of the private sector, and government should get out of the way. But what if that wasn't case? What if, from the inventions of Silicon Valley to medical breakthroughs, the public sector has actually been the most courageous and valuable risk-taker of all? Critically acclaimed and influential thinker and scholar Mariana Mazzucato argues comprehensively against the myth of a lumbering, bureaucratic state versus a dynamic, innovative private sector with remarkable original and deep research. In a series of case studies -- from nanotechnology to the emerging green tech of today -- Mazzucato reveals that the opposite is true: the private sector only finds the courage to invest after an entrepreneurial state has made the high-risk investments. The Entrepreneurial State reveals how every technology that makes the iPhone so "smart" was actually funded by the government -- from the Internet and GPS technology, to touch-screen displays and voice-activated Siri. In the history of modern capitalism, the State has not only fixed market failures, but has also actively shaped and created markets. In doing so, it sometimes wins and sometimes fails. Yet by not admitting the State?s role in active risk taking, we've created an "innovation system" where the public sector socializes risks while privatizing reward, as Mazzucato controversially argues. This bold and provocative book considers how we adopted this dysfunctional dynamic, and then how we can overcome it so that economic growth can be not only "smart" but "inclusive" as well.

Contents:

Introduction Thinking Big Again

Chapter 1 From Crisis Ideology to the Division of Innovative Labour

Chapter 2 Technology, Innovation and Growth

Chapter 3 Risk-Taking State: From "De-risking" to "Bring It On!"

Chapter 4 The US Entrepreneurial State

Chapter 5 The State behind the iPhone

Chapter 6 Pushing vs. Nudging the Green Industrial Revolution

Chapter 7 Wind and Solar Power: Government Success Stories and Technology in Crisis

Chapter 8 Risks and Rewards: From Rotten Apples to Symbiotic Ecosystems

Chapter 9 Socialization of Risk and Privatization of Rewards: Can the Entrepreneurial State Eat Its Cake Too?

Chapter 10 Conclusion

Notes:

"Penguin original."

Includes bibliographical references (pages 217-241) and index.

ISBN:

9780593656938

0593656938

OCLC:

1379221636

Publisher Number:

90101361222